ExxonMobil CEO: Negotiating with Russia to recover losses from the Sakhalin-1 expropriation

Jin10 data reported on September 18, ExxonMobil (XOM.N) CEO Darren Woods stated in an interview that the core of the company's negotiations with Russia is to recover losses incurred from the expropriation of its Sakhalin-1 oil project in 2022. He said, “We have immediately initiated arbitration to seek compensation for the losses caused by this expropriation, and the Biden administration has expressed support for this, even encouraging us to start settlement negotiations while submitting the arbitration application. Later, the Trump administration also supported this.” Three years ago, after Russia launched a special military operation against Ukraine, ExxonMobil, like most Western companies, exited the Russian market.