Putin extended the deadline for the sale of Exxon's stake in Sakhalin-1 until January 1, 2027

Russian President Vladimir Putin has extended by one year the deadline for the sale of an unclaimed foreign stake in the Sakhalin-1 oil and gas project. The relevant document was published on December 24 on the official Internet portal of legal information.

"In subparagraph "h" of paragraph 1, the words "January 1, 2026" should be replaced with the words "January 1, 2027," the document says.

The document amends the decree of October 7, 2022 "On the application of additional special economic measures in the fuel and energy sector."

The decree also states that the amendment was introduced "in connection with the unfriendly actions of some foreign states and international organizations."

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On September 3, Sakhalin Oblast Governor Valery Limarenko called the publication of Putin's decree, which created the conditions for the return of the American oil and gas company ExxonMobil to the Sakhalin-1 project, an important step forward. He said that former US President Joe Biden violated the "economic logic of the American oil business." Limarenko also noted that the Sakhalin-1 project is beneficial for the United States and for American ExxonMobil in particular, therefore, the company's withdrawal from it was a mistake.

The Wall Street Journal reported on August 26 that ExxonMobil is considering a return to the Russian market. It is noted that Exxon executives appealed to the US government for support in the event of the company's return to the Russian Federation. The publication stressed that ExxonMobil CEO Darren Woods discussed with US President Donald Trump the possible resumption of Exxon's activities in Russia.

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