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Exxon to Exit Oil Ventures with Rosneft Due to Sanctions

Source: Reuters 2/28/2018, Location: Asia

Exxon Mobil Corp will pull out of exploration and research joint ventures with Rosneft due to U.S. and European Union sanctions against Russia. Exxon, the world’s largest publicly traded oil producer, said the exit will result in an after-tax loss of $200 million.

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