February 28, 2018 / 10:22 PM / 3 months ago

Exxon to exit oil ventures with Russia's Rosneft due to sanctions

HOUSTON, Feb 28 (Reuters) - Exxon Mobil Corp said on Wednesday it 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. (Reporting by Ernest Scheyder Editing by Susan Thomas)

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