News > Exxon's exit from Russia amid Ukraine war puts ONGC Videsh in a fix

Exxon's exit from Russia amid Ukraine war puts ONGC Videsh in a fix

Exxon Mobil Corp's decision to exit Russia has put India's flagship overseas firm ONGC Videsh in a fix as it is a partner in the global energy giant-operated Sakhalin-1 oil fields in Far East Russia, sources said.

ExxonMobil holds a 30% stake in the Sakhalin-1 offshore oil assets, where ONGC Videsh Ltd, the overseas investment arm of state-owned Oil and Natural Gas Corporation, has a 20% interest.