India, Russia Works Together On Energy Cooperation As Major Oil Companies Suspend Operations
Many western oil and gas corporations have terminated collaborative Arctic energy projects with Russia because of the Ukraine situation. Russia's military intervention in Ukraine has fueled fears of Western economic penalties as well as resistance to Russia. Energy companies such as BP, Equinor, ExxonMobil and Shell are evaluating their options for exiting Russian operations. In the Russian Far East, the Sakhalin-1 multinational collaboration of oil and gas development corporations has seen similar patterns. As a result, ExxonMobil has already suspended activities in Sakhalin-1 and is anticipated to complete its withdrawal from the joint venture in the near future. Two ONGC Videsh Ltd. (India), Sakhalin Oil and Gas Development Co. Ltd. (Japan), Sakhalinmorneftegas-Shelf and RN...
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