Why Kara Sea Exploration Is Worth Dodging Russian Sanctions For Exxon Mobil
- XOM and its partner in Russia Rosneft, commenced oil drilling in Kara Sea on Saturday.
- XOM doesn’t seem to be bothered about the ostensibly imminent sanctions that would target Moscow’s energy sector.
- According to the company's Q2 report, XOM’s production touched a five-year low.
- Kara Sea has more oil than Saudi Arabia.
- XOM is making sure that it capitalizes on its profit in the coming quarters by significantly enhancing its production.