ExxonMobil striking out
US sanctions against Russia have hit ExxonMobil harder than most and the supermajor is getting no change out of Washington in its efforts to loosen them
ExxonMobil has failed for a second time with efforts to circumnavigate US sanctions against Moscow and resume an oil venture with Kremlin-controlled oil firm Rosneft. The US energy giant, which has had a continuous business presence in Russia for more than 20 years across upstream, downstream and chemicals operations, will now be reassessing its long-term plans for the country and its alliance with Rosneft, which is led by President Vladimir Putin's energy czar Igor Sechin. ExxonMobil has arguably suffered more from sanctions than other Western counterparts, or even Russian oil producers. Some of the measures, introduced in response to Russian interference in the Ukraine conflict, specifical
Also in this section
10 March 2026
From Venezuela to Hormuz, the US—backed by the most powerful military force ever assembled—is redrawing not only oil and gas flows but also the global balance of energy power
10 March 2026
By shutting the Strait of Hormuz, Iran has cut exports of distillate-rich Middle Eastern crude, jet fuel and diesel, and is holding the energy market hostage
10 March 2026
Eni’s director for global gas and LNG portfolio, Cristian Signoretto, discusses how demand will respond to rising LNG supply, and how the company is expanding its own gas and LNG operations through disciplined, capital-efficient investments
9 March 2026
Petroleum Economist analysis sees increases in output from Saudi Arabia, Venezuela and Kazakhstan among others before region’s murky descent
