The bosses of Exxon Mobil Corp. and BP Plc are set to take part in an energy conference presided by Russian President Vladimir Putin in a rare trip to Moscow despite a wider political standoff between Russia and the West.
Exxon Mobil CEO Darren Woods might meet Putin in Moscow on Oct. 2 on the sidelines of the conference, Kremlin spokesman Dmitry Peskov said.
Woods and BP boss Robert Dudley are listed among the panelists of this week’s conference, which is also expected to be attended by officials from Iran, Saudi Arabia and Venezuela.
Peskov said that Putin and Woods, if their meeting happens, would discuss “potential cooperation areas” in a “short meeting.”
BP declined to comment on Dudley’s plans.
Western oil executives frequently visited Russia before relations with Moscow soured in 2014 following the annexation of Crimea by Russia and subsequent insurgency in eastern Ukraine.
This was followed by allegations of Moscow meddling in the 2016 U.S. elections, which the Kremlin has denied, and wider sanctions against Russian individuals and corporates.
As the result of the sanctions, Exxon Mobil had to withdraw from joint energy projects with Kremlin-controlled Rosneft in the Arctic.
Woods attended a Russian conference in St. Petersburg in 2017, while Dudley, former head of Anglo-Russian oil producer TNK-BP, which was sold to Rosneft in 2013, met Putin in March in the Kremlin at a gathering with UK businesses.
BP holds a 19.75% stake in Rosneft.
The ruling by Justice Barry Ostrager in Manhattan Supreme Court followed a trial featuring testimony from investors, experts and former Exxon Mobil CEO Rex Tillerson.
The second-largest U.S. oil company also said it will reduce funding to the various gas-related opportunities.
The move comes shortly after former COO Olivier Le Peuch took over the top job in July, following years of declines in Schlumberger's share price and a hit from cuts in spending by producers.