Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Stock

Exxon gets extension on Sakhalin-1 stake sale to 2026

admin by admin
December 9, 2024
in Stock
0
Exxon gets extension on Sakhalin-1 stake sale to 2026
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter

Russian President Vladimir Putin has granted Exxon Mobil Corp (NYSE:XOM) an extension until January 1, 2026, to divest its 30% holding in the Sakhalin-1 oil and gas project.

The previous extension had set the deadline for January 1, 2025.

The Sakhalin-1 project, situated in Russia’s Far East, has been subject to changes since October 2022 when President Putin issued a decree transferring control of the operation to a Russian company.

Following this decree, foreign shareholders were given a one-month window to decide whether to retain their ownership in the newly formed entity.

Japan’s Sodeco and India’s ONGC Videsh Ltd opted to maintain their shares, which are 30% and 20% respectively. Russian oil giant Rosneft holds the remaining 20%.

Prior to this development, Exxon, which also held a 30% stake, was in the process of negotiating the transfer of its share to an unnamed third party. However, these plans were halted by an earlier decree from Putin in August 2022, which prohibited foreign investors from withdrawing from certain strategic projects in the country.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

This post appeared first on investing.com

Previous Post

Argentina’s Mr Market Javier Milei wants to make austerity great again

Next Post

Satellogic shares surge on contract expansion and share sale

admin

admin

Next Post
Satellogic shares surge on contract expansion and share sale

Satellogic shares surge on contract expansion and share sale

Trending News

Europe markets open: Stoxx 600 rallies over 1% as markets cheer US-China deal

Europe markets open: Stoxx 600 rallies over 1% as markets cheer US-China deal

May 12, 2025
Turkey raises monthly minimum wage by 30% for 2025

Turkey raises monthly minimum wage by 30% for 2025

December 25, 2024
Power of the pause: why top leaders are embracing sabbatical

Power of the pause: why top leaders are embracing sabbatical

November 23, 2024
Subscribe to Insightful Word


    Recent News

    S&P 500 nears record high despite headwinds: key drivers behind the surprise rally

    S&P 500 nears record high despite headwinds: key drivers behind the surprise rally

    June 26, 2025
    Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high

    Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high

    June 26, 2025
    S&P 500 nears record high as Wall Street opens higher amid tech momentum

    S&P 500 nears record high as Wall Street opens higher amid tech momentum

    June 26, 2025
    Galaxy Digital launches $175 million fund to back DeFi and stablecoin startups

    Galaxy Digital launches $175 million fund to back DeFi and stablecoin startups

    June 26, 2025

    Recent News

    S&P 500 nears record high despite headwinds: key drivers behind the surprise rally

    S&P 500 nears record high despite headwinds: key drivers behind the surprise rally

    June 26, 2025
    Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high

    Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high

    June 26, 2025

    Latest News

    • S&P 500 nears record high despite headwinds: key drivers behind the surprise rally
    • Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high
    • S&P 500 nears record high as Wall Street opens higher amid tech momentum

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.