ExxonMobil’s chief executive said the oil major has no plans to return to working in Russia, despite a political push by Moscow and Washington to link energy investments to a peace deal in Ukraine.
Darren Woods told the Financial Times that Exxon executives are involved in discussions with Russian officials about recouping $4.6bn in assets expropriated by Moscow but not about investing in the country.
He said the talks began in early 2023 shortly after the company filed an arbitration case against President Vladimir Putin’s government, which months earlier seized control of Exxon’s 30 per cent stake in Sakhalin-1, a gigantic oil project in Russia’s far east.
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