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Moscow faced increasing isolation on Tuesday, March 1, as President Vladimir Putin showed no sign of stopping an invasion of Ukraine , where fierce fighting and Russian bombardment have killed dozens and sparked a refugee crisis. Russia’s invasion, launched last week, appears not to have achieved the decisive early gains that Putin would have hoped for. The Russian leader faces mounting diplomatic isolation for launching the biggest assault on a European state since World War Two,and the systemic impact of Western sanctions led to a near 30% collapse in the rouble on Monday, February 28, before central bank intervention rescued the currency from its lows. Ceasefire talks held Monday failed to reach a breakthrough and negotiators have not said when a new round would take place. The United States and its allies have imposed sanctions on Russia’s central bank, its top businesses, oligarchs and officials, including Putin himself, and barred some Russian banks from the SWIFT international payments system.

The moves by BP and Shell leaves Exxon and TotalEnergies SE as the only remaining supermajors with significant drilling operations in Russia.

With years of investment unraveling, attention now turns to TotalEnergies and Exxon’s investments in the country.

Shell said it would exit its investments in Russia, a day after BP said it would do the same. Now companies like TotalEnergies and Exxon will face questions.

British gas company Shell is pulling out of Russia, and other Western energy firms including Total and Exxon face pressure to do the same.

ExxonMobil has reached an agreement to sell its equity interest in its subsidiary Mobil Producing Nigeria Unlimited to Seplat Energy.

A Federal High Court in Abuja on Monday, February 28, 2022, granted a garnishee order absolute, mandating the Central Bank of Nigeria to release the sum of N81.9 billion standing to the credit of the Nigerian National Petroleum Corporation and its joint venture partner, Mobil Producing Nigeria Unlimited (NNPC), in it’s custody to oil-producing communities in Ibeno Local Government Area of Akwa Ibom state. Justice Taiwo Oladipupo Taiwo gave the order in a judgment in a suit instituted by aggrieved oil communities ravaged by oil spillage The Ibeno communities led by Obong Effiong Archianga and 9 others had through their lawyers, Lucius Nwosu, SAN brought an action against NNPC, Mobil Producing Nigeria Unlimited, and ExxonMobil Corporation seeking about N100 billion compensation for economic losses suffered from oil spillages caused by the defendants during exploration. The oil communities had gone to court to seek redress over oil spillage in the area, which they claimed had caused environmental degradation in their communities.

Former CEO and Secretary of State Rex Tillerson famously had a close relationship with Russia.

The Federal High Court, Abuja, granted a garnishee order absolute, on Central Bank of Nigeria (CBN) to release N81.9 billion to Ibeno Local Government Area of Akwa Ibom. The money is standing to the credit of the Nigerian National Petroleum Corporation (NNPC) and it’s joint venture partner, Mobil Producing Nigeria Unlimited. Justice Taiwo Taiwo gave the order while ruling on a garnishee nisi proceeding. Ibeno is one of the oil producing communities in Akwa Ibom. The community instituted a suit against NNPC, Mobil Producing Nigeria Unlimited and ExxonMobil Corporation seeking about N100 billion compensation for economic losses suffered from oil spillages caused by the defendants during exploration. The oil communities, led by Mr Effiong Archianga and nine others had through their lawyer, Mr Lucius Nwosu, SAN, sought redress over oil spillage in the area. They alleged that the spillage had caused environmental degradation in their communities. The court had in June 21, 2021, in a judgement, awarded N81.9 billion to the plaintiffs, who are now judgment creditors.

(Bloomberg) -- Exxon Mobil Corp. is facing a tough choice over whether to leave Russia as rival supermajor oil explorers quit the country’s vast oil and natural gas fields in response to the invasion of Ukraine.

InvestorPlace - Stock Market News, Stock Advice & Trading Tips XOM stock is a value investor''s choice as its yield, P/E, buyback policy and growth outlook all check the boxes. The post Exxon Looks Like Good Value Here Based on Its Value Metrics and Growth Outlook appeared first on InvestorPlace . More From InvestorPlace Stock Prodigy Who Found NIO at $2… Says Buy THIS Now Man Who Called Black Monday: “Prepare Now.” Get in Now on Tiny $3 ‘Forever Battery’ Stock Interested in Crypto? Read This First…

The top shareholders of ExxonMobil are Andrew P. Swiger, Darren W. Woods, Neil W. Duffin, Vanguard Group, BlackRock, and State Street.

Seplat Energy Plc, a leading Nigerian independent energy company listed on both the Nigerian Exchange Limited and the London Stock Exchange, announces its audited results for the full year ended 31 December 2021, recording a growth of its 2021 full-year gross profit by 128.9 percent to N114.2billion. The foremost indigenous energy company also announced a 38.2percent rise in its 2021 full-year revenue to N293.6billion; and a growth in profit before tax by 321.1percent to N71billion. Commenting on the very impressive results, Roger Brown, Chief Executive Officer, Seplat Energy Plc, said: “Seplat Energy announced a major acquisition last week and despite a challenging year for Nigerian oil and gas, the robust results delivered today clearly show how our increasing financial strength has made such an acquisition possible, without the need to dilute shareholders, by giving international financial partners the confidence to invest in our vision. The addition of Nigeria are Mobil Producing Nigeria Unlimited (MPNU) nearly trebles our production and doubles our reserves on a pro forma 2020 basis, reinforcing our leadership of Nigeria’s indigenous energy sector and enabling us to generate strong future cash flows that will underpin our investment in Nigeria’s energy transition and improve our overall stakeholder returns.

Seplat Energy , the largest indigenous energy company by market value, has bounced back from the pandemic-induced loss of 2020, as the oil rally helped push the company back to profitability in 2021. Seplat posted a profit of N46.9 billion in 2021 compared to a loss of N30.7 billion in 2020. The company benefited from the oil price rally which averaged $70.54/bbl in 2021 compared to $39.95/bbl in 2020 when the pandemic weakened oil sales. Revenue from oil and gas sales jumped 53 percent in 2021 to N293.6 billion compared to N190.9 billion in 2020. “Seplat Energy announced a major acquisition last week and despite a challenging year for Nigerian oil and gas, the robust results delivered today clearly show how our increasing financial strength has made such an acquisition possible, without the need to dilute shareholders, by giving international financial partners the confidence to invest in our vision,” Roger Brown, the Chief Executive Officer said. Read also: Oil prices surge to $105 per barrel as Russia attacks Ukraine The company has bought the entire offshore shallow water business of ExxonMobil in Nigeria at the cost $1.2billion.

Chevron, BP and Exxon are among the energy companies in focus this morning.