• Exxon Mobil Mulling Full Exit From Russia

  • Exxon Mobil Mulling Full Exit From Russia

    The energy company still does limited chemical and lubricant business in Russia.

    April 25, 2022

    Exxon Mobil Forecourt Sign

    LONDON—Exxon Mobil is considering pulling out of Russia completely by June 24, reports Reuters. The company decided to exit all operations in the country earlier this year, but some business still exists.

    The company has significantly reduced its chemical and lubricant businesses in Russia, and only existing contractual commitments and essential products used in applications such as food preservation, agriculture and hygiene are taking place.

    Last month, the company removed U.S. citizen employees from Russia, and first departures included staff from its large oil and gas production operations on Sakhalin Island in Russia's Far East, including the Sakhalin 1 project.

    Exxon says that it employed more than 1,000 people in Russia, and it did not provide a timetable for the exit.