India, the world’s third-largest oil importer, is pushing for equity oil from Russia as sanctions-related difficulties have made it difficult to repatriate funds to India and energy security concerns
Russia’s Sakhalin-1 oil and gas project missed its output target by 50% after Exxon declared force majeure due to the sanctions resulting from Putin’s war in Ukraine
ExxonMobil s withdrawal from Russia may have been a blessing in disguise as the supermajor is now focusing on potentially much more profitable projects
Tokyo had presented its policy of maintaining Japan's interest in Sakhalin-1, hoping to reduce the country's oil dependence on the Middle East, which stands at about 90%.