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Russia Gives ExxonMobil More Time to Exit Sakhalin-1 Oil and Gas Project

12 hours ago

Russian President Vladimir Putin has extended by one year the deadline for the sale of U.S. oil major ExxonMobil's stake in the Sakhalin-1 oil and gas project until January 1, 2027, according to a decree published on Wednesday.The extension is expected to help Exxon recover losses incurred in Russia after it exited the country following the start of Moscow's conflict with Ukraine in 2022.In August…

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