Exxon Mobil to discontinue operations at Russia’s Sakhalin-1

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FILE PHOTO: Logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro

– Exxon Mobil Corp said on Tuesday it is starting a process to discontinue operations and developing steps to exit the Sakhalin-1 venture in Russia.

The company said it would not invest in new developments in Russia.

(Reporting by Shivani Tanna in Bengaluru; Editing by Subhranshu Sahu)