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World News

Russian Sanctions Force Exxon to Pull Out of Arctic Project World News

Russian Sanctions Force Exxon to Pull Out of Arctic Project

Last Friday, Exxon Mobil Corp. (NYSE: XOM) issued a terse statement that the company has received a license from the U.S. government that allows the company to continue working in Russia while it shuts down its first project under a deal signed more than three years ago. Russia’s energy industry had avoided sanctions placed on the country by the U.S. and Europe as a result of the Russian incursion into Ukraine. September 22 2014, 11:26 3 521 views