Exxon Mobil (XOM.N) on Tuesday said it would exit Russia oil and gas operations that it has valued at more than $4 billion and halt new investment as result of the Russia-Ukraine war, APA reports citing Reuters.
The decision will see Exxon pull out of managing large oil and gas production facilities on Sakhalin Island in Russia's Far East, and puts the fate of a proposed multi-billion dollar liquefied natural gas (LNG) facility there in doubt.
Noted that last year, Exxon employed more than a thousand people across Russia.
The company has offices in Moscow, St. Petersburg, Yekaterinburg and Yuzhno-Sakhalinsk.
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