Exxon Mobil Corp. is facing a tough choice over whether to leave Russia as rival supermajor oil explorers quit the country’s vast oil and natural gas fields in response to the invasion of Ukraine.
Although BP Plc and Shell Plc have announced plans to cut ties with Russian partners, Exxon hasn’t disclosed intentions for its 30% stake in a huge offshore crude development in the Russian Far East.
The moves by BP and Shell leaves Exxon and TotalEnergies SE as the only remaining supermajors with significant drilling operations in Russia. Unless an announcement comes sooner, Exxon Chief Executive Officer Darren Woods is expected to be grilled by analysts Wednesday during the company’s annual strategy presentation to Wall Street.
