ExxonMobil has declared force majeure on exports from the Sakhalin-1 crude facility in Russia as growing pressure on Russian oil separately led Germany to signal it is open to an imports ban.
And yet, as energy and shipping players continue to distance themselves from Russian oil, the country’s volumes do not appear to be suffering.
ExxonMobil said subsidiary Exxon Neftegas, the unit that controls its stake in the Sakhalin-1 plant and is operator of the crude production plant, declared force majeure because sanctions on Russia have made it hard to ship crude from the facility, according to a report by Reuters.
