U.S. supermajor ExxonMobil, which joined other international majors in announcing withdrawal from Russian oil and gas projects, plans to shut down all its businesses in Russia by June 24, Reuters reported on Thursday, quoting two sources with knowledge of the discussions. In early March, days after Russia invaded Ukraine, Exxon said it would exit the Sakhalin-1 oil project in Russia, following the example of other majors, including BP and Shell, who quit their Russian operations following the Russian invasion of Ukraine. ExxonMobil operated the Sakhalin-1 project on behalf of an international consortium of Japanese, Indian, and Russian companies. “The process to discontinue operations will need to be carefully managed and closely coordinated with the co-venturers in order to ensure it is executed safely,” the supermajor said in early March, adding that it would not invest in new developments in Russia, either. According to Reuters’ sources, Exxon is now looking […]