Russian President Vladimir Putin has signed a decree that could allow foreign investors, including top U.S. oil major Exxon Mobil, to regain shares in the Sakhalin-1 oil and gas project. This development potentially reopens a significant opportunity for ExxonMobil.
ExxonMobil had previously exited the Sakhalin-1 project following Russia's actions in Ukraine. The new decree creates a legal framework for foreign companies to potentially re-engage with their former stakes in the venture.
This regulatory change is a significant development, offering a path for ExxonMobil to reconsider its involvement in a major energy asset. Any decision to return would involve complex strategic, operational, and geopolitical considerations for the company.
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