Exxon Stock News

US oil giant to opt out of LNG facility Sakhalin-1

Exxon’s current CEO Darren Woods is scheduled to face questions from analysts on Wednesday during the company’s annual strategy presentation to Wall Street.

Boeing, Ford and ExxonMobil have added their names to the growing list of companies that have ended or suspended their business in Russia over its invasion of Ukraine.

OIL PRICES have surged following ExxonMobil''s decision to discontinue operations at Sakhalin 1 in Russia.

Seplat Energy is financing its $1.23 billion purchase of ExxonMobil’s onshore and shallow water assets through a debt financing of US$825 million fully committed to, by a syndicate of Nigerian and African banks, and energy and commodity traders, analysts at Wood Mackenzie, a leading global energy intelligence firm have said. In a newly released investor […]

Russian forces landed in Ukraine''s second-biggest city on Wednesday and triggered immediate clashes in the streets of Kharkiv, the military said, following Moscow''s relentless air assault across the ex-Soviet state. The airborne operation came as US President Joe Biden branded Vladimir Putin a “dictator”, warning the sanction campaign to cripple Russia''s economy would escalate and its oligarchs were being targeted. In Biden''s first State of the Union address, he hailed the resolve of the Western alliance and voiced solidarity with Ukraine as lawmakers in the US Congress gave a standing ovation to the Ukrainian people. “A Russian dictator, invading a foreign country, has costs around the world,” Biden told lawmakers in his annual State of the Union address, promising “robust action to make sure the pain of our sanctions is targeted at Russia''s economy”. But as he spoke a Russian escalation was reported to be underway in Kharkiv, an apparent bid by Moscow to capture its first major Ukrainian city of the invasion.

Apple, ExxonMobil and Boeing have announced steps to withdraw their operations in Russia as more US corporate giants take action after the Ukraine invasion. The moves — in diverse industries and following earlier announcements by Disney, Ford, Mastercard and others — highlight the rising economic toll on Russia after its assault on Ukraine unleashed massive sanctions across Western governments. Read on

KYIV, Ukraine — Ukraine’s Defense Ministry says it has evidence that Belarus, a Russian ally, is preparing to send troops into Ukraine. The ministry statement, posted on Facebook at midnight, said the Belarussian troops have been brought into combat readiness and are concentrated close to Ukraine’s northern border. “During the past 24 hours, according to intelligence findings, there has been significant aircraft activity. In addition, there has been movement of a column of vehicles with food and ammunition” approaching the border,” the statement said. ___ BOSTON — A firm that tracks cryptocurrency transactions says $33.8 million in the digital currency has been donated to Ukraine’s government and non-governmental organizations there since the start of Russia’s invasion, nearly a third of it on Tuesday. Chief Scientist Tom Robinson of Elliptic said most donations to date have been in bitcoin and ether. Some people are sending non-fungible tokens, or NFTs, to the Ukrainian government’s ethereum account.

"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," said ExxonMobil in a statement.

There has been a stampede of large U.S. companies in recent days away from Russia affecting nearly every sector.

HOUSTON, (Reuters) - Exxon Mobil XOM.N yesterday said it would exit Russia oil and gas operations that it has valued at more than US$4 billion and halt

U.S. companies Apple, Google, Ford, Harley-Davidson, Boeing and Exxon Mobil rebuked and rejected Russia for its invasion of Ukraine, under steady pressure from investors and consumers decrying the violence. Apple… The post Google, Apple, Ford, other big US brands join corporate wave shunning Russia appeared first on Nigeria''s Top News Site .

U.S. President Joe Biden said late Tuesday Russian leader Vladimir Putin "badly miscalculated" in his invasion of neighboring Ukraine and the thought that he could make the free world "bend to his menacing ways." Biden used the beginning of his State of the Union address to the nation to express support for Ukraine and outline the widespread, unified response from Ukrainian allies that has included sending weapons and aid to Ukraine and imposing strong economic sanctions against Russia. "Putin may circle Kyiv with tanks, but he will never gain the hearts and souls of the Ukrainian people," Biden said. "He will never extinguish their love of freedom. He will never, never weaken the resolve of the free world." Biden announced the closing of U.S. air space to all Russian flights and said the U.S. Justice Department is forming a special task force "to go after the crimes of Russian oligarchs." He reiterated that the United States will not be sending troops to fight in Ukraine, while stating that NATO allies would "defend every inch" of territory in member states. "The Ukrainians are fighting back with pure courage, but the next few days, weeks and months will be hard on them," Biden said. "Putin has unleashed violence and chaos, but while he may make gains on the battlefield, he will pay a continuing high price over the long run." Among the audience in the U.S.

The American oil and gas giant is "beginning the process to discontinue operations" at the Sakhalin-1 project off Russia''s eastern coast. The company also says it won''t make new investments in Russia.

TOKYO (Reuters) – Japan’s Sakhalin Oil and Gas Development (SODECO), which owns a 30% stake in the Sakhalin-1 project, is trying to confirm details of Exxon Mobil’s announcement to start a process to discontinue operations, a spokesperson said on Wednesday.