BP, Equinor, and Shell are exiting Russia, but Exxon’s response seems to be something less. Per Upstream:
US supermajor ExxonMobil is scaling back its operations on its flagship offshore development project in Russia’s Sakhalin Island region in response to the fallout from the crisis in Ukraine, according to the Sakhalin Online news website.
A consortium source cited by the Russian website claimed that foreign managers have been told to leave the project for an initial period of one month.
Upstream
Exxon accepted the political risks associated with lucrative Russian production, and they now have a massive moral and public relations dilemma. Will they try to wait this crisis out or take more permanent actions?
It would be nice to see Exxon return to the Gulf of Mexico where they haven’t drilled a well since 2019. Currently, Exxon’s primary interest in the Gulf is for carbon sequestration purposes. Perhaps they can focus more on the Gulf’s still promising production potential and less on its potential as a disposal site.
Bud's Offshore Energy (BOE) 