Exxon Mobil has held confidential talks with Russia's state-controlled oil company Rosneft regarding a potential return to the Sakhalin-1 oil and gas project. These discussions, led by Exxon executive Neil Chapman and Rosneft CEO Igor Sechin, took place in Qatar and possibly in Alaska. The talks are reportedly contingent on approval from both the U.S. and Russian governments and are linked to broader efforts surrounding a peace process for the ongoing Ukraine conflict. Exxon had exited the Sakhalin-1 project following Russia's invasion of Ukraine in 2022. The potential resumption of business marks a notable shift in U.S.-Russia energy relations amid diplomatic efforts involving former U.S. President Donald Trump and Russian President Vladimir Putin. The Wall Street Journal first reported the talks, highlighting that the discussions also included Russia's possible purchase of U.S. equipment. The developments underscore the complex interplay between energy interests and geopolitical considerations in the context of the Ukraine war and ongoing peace negotiations.