Select Page

Exxon to exxit Russia

Exxon Mobil (NYSE: XOM) announced it would suspend its Russia oil & gas operations, leaving over $4 billion in assets behind, according to its latest annual report.

Mounting pressure

The move comes just a couple of days after oil & gas giants BP (NYSE: BP), Equinor ASA (NYSE: EQNR), & Shell cut ties with Russia. 

It’s not just western energy companies that are cracking down on Russia. Big tech companies also took measures to respond to Russia’s invasion of Ukraine.

Oil prices don’t seem to be slowing down

Crude oil prices are surging. Brent crude, the most popular indicator for global oil prices, now stands at over $110/barrel, its highest in years.