ExxonMobil continuing efforts to exit project Russian crude trading at significant discounts ExxonMobil’s Russian subsidiary Exxon Neftegas has declared force majeure for its Sakhalin 1 project, a spokesperson told S&P Global Commodity Insights April 29. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now “Force majeure was declared due to recent events that hinder, delay or prevent Exxon Neftegas Ltd. from complying with its obligations under the agreements and from conducting operations at the required level of international standards for marine and petroleum industries,” the spokesperson said. Some traditional buyers of Russian oil have been seeking alternative suppliers since Russia’s invasion of Ukraine Feb. 24 triggered major financial sanctions. This has seen Russian crude grades trade at significant discounts. Platts assessed Sokol CFR Japan/Korea Spore vs Mean of Dubai at -$22.5/b April 29, S&P Global data showed. This is down from $7.95/b on […]