Exxon plans to exit Russia, bans new investments
Written by Black Hot Fire Network on March 3, 2022
Exxon Mobil Corp. announced yesterday it will cease operations at a major oil and gas project in Russia, joining other energy companies that have shunned the country after its invasion of Ukraine.
The decision came as a coalition of countries opted to release oil from their reserves to stabilize world prices and the Biden administration traded jabs with oil industry groups about the need to support domestic production.
Texas-based Exxon also said it will not invest in new developments in Russia, according to a statement.
“ExxonMobil supports the people of Ukraine as . . .
