US government prohibited ExxonMobil to cooperate with Russia

The US government will not grant special permission to ExxonMobil to carry out oil and gas drilling in Russia. Due to anti-Russia sanction the company can lose a significant amount of its projects as well as to finish its oil discovery on the Black Sea territory. Consequently, ExxonMobil will face big loses. Despite current situation, ExxonMobil hopes that the cooperation between Russia and USA will get better. At the moment, the company is still operating in Russia and along with other foreign oil companies is participating in “Sahalin-1” project.

Since mid-April ExxonMobil shares dropped by 2,7% and continue to fall in price. The trade will be available during American session from 14:40 to 21:00 GMT.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions.