Russian President Vladimir Putin has signed a decree allowing foreign investors, including Exxon Mobil, to regain shares in the Sakhalin-1 project after the 2022 seizure.
Raluca Ioana Draghici
International
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The decree signed by Putin paves the way for foreign investors, in particular Exxon Mobil, to return to the Sakhalin-1 oil project, although the conditions are strict. Shareholders must support the lifting of Western sanctions and sign contracts for needed equipment. Exxon, which lost $4.6 billion on its exit from Russia, faces high hurdles under international sanctions. The previous decree established a new operating structure under Rosneft, while other investors such as ONGC and SODECO were allowed to keep their stakes.
Sources
Un decret al Rusiei deschide calea pentru revenirea Exxon la proiectul Sakhalin-1
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