Exxon Mobil Corp, with a 30% stake, was the operator of Sakhalin-1, a development in Russia’s Far East.
In April, Exxon took a $4.6 billion impairment charge for exiting its Russian activities, leaving Sakhalin-1 operation open for a takeover from a partner.In August, Putin issued the Presidential Decree 520 which Exxon said impedes the company to conclude the exit safely. Exxon’s head of upstream operations said on Tuesday it was still working with its partners on its exit.The Russian company Rosneft is a partner in the project along with ONGC Videsh, the overseas investment arm of India’s ONGC, and Japan’s SODECO.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US accuses Russia of exploiting Africa resources to fund Ukraine war - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The United States accused Russian mercenaries on Thursday of exploiting natural resources in the Central African Republic, Mali, Sudan and elsewhere to help fund Moscow’s war in Ukraine, a charge Russia rejected as “anti-Russian rage.” And how much has America exploited in Africa without getting a single blame...mxm🚮 Lol..USA only approves exploitation whn its them...
Source: SABCNews - 🏆 37. / 51 Read more »
INFOGRAPHIC | Transnet strike continues - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Transnet strengthens security measures throughout its businesses in response to a wage strike. Transnet declared the strike unlawful, claiming that the United National Transport Union (Untu) failed to follow proper processes under the Labour Relations Act. Transnet workers maintained their wage strike on Thursday, and the state-owned corporation claimed it has contingency preparations in place …
Source: SABCNews - 🏆 37. / 51 Read more »