ExxonMobil striking out
US sanctions against Russia have hit ExxonMobil harder than most and the supermajor is getting no change out of Washington in its efforts to loosen them
ExxonMobil has failed for a second time with efforts to circumnavigate US sanctions against Moscow and resume an oil venture with Kremlin-controlled oil firm Rosneft. The US energy giant, which has had a continuous business presence in Russia for more than 20 years across upstream, downstream and chemicals operations, will now be reassessing its long-term plans for the country and its alliance with Rosneft, which is led by President Vladimir Putin's energy czar Igor Sechin. ExxonMobil has arguably suffered more from sanctions than other Western counterparts, or even Russian oil producers. Some of the measures, introduced in response to Russian interference in the Ukraine conflict, specifical
Also in this section
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
