- Exxon Mobil said on Wednesday its Russian unit Exxon Neftegas has declared force majeure for its Sakhalin-1 operations due to sanctions on Russia that have made it increasingly difficult to ship crude to customers.
- Exxon said on March 1 it would exit about $4 billion in assets and discontinue all its Russia operations, including Sakhalin 1, following Moscow’s invasion of Ukraine on Feb. 24.
- The oil producer is taking steps to exit Sakhalin 1, which includes addressing contractual and commercial obligations, Exxon spokesperson Julie King said in a written response.
www.cnbc.com/2022/04/28/exxon-declares-force-majeure-on-russian-sakhalin-1-operations.html
Wall Street Journal today: Chinese Navy’s Great Leap Forward
First by stealth, then by degrees, and now by great leaps, China is building a blue water navy and a network of bases to extend its military and political influence. A new secret Chinese military base in Cambodia ought to wake up America’s political class—including the U.S. Navy brass—to what is fast becoming a global Chinese challenge.
The Washington Post on Monday cites Western officials about the facility under construction at Cambodia’s Ream Naval Base on the Gulf of Thailand. The Journal reported in 2019 that Cambodia and China had secretly agreed to let the Chinese military use a naval base in the Southeast Asian nation. China and Cambodia denied it at the time.
China has put their GIGANTIC workforce to building the largest navy in the world
They will simply make each ship a platform for offensive & defensive weaponry, and if you get sunk….so what? 2-3 will take your place
www.cnn.com/2021/03/05/china/china-world-biggest-navy-intl-hnk-ml-dst/index.html
h/t OCCAM’S RAZOR