Exxon to Quit Russian Oil Ventures Frozen by U.S. Sanctions

Without Russia, Exxon has struggled to grow production. Output has dropped in five of the last six years and the company has made several acquisitions from the U.S. to Mozambique to arrest the decline. Under Tillerson’s successor, Darren Woods, Exxon has shifted more of its focus to the Permian Basin of Texas and New Mexico, offshore Guyana, Brazil and East Africa.

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