According to information provided by Darren Woods, CEO of ExxonMobil, to Reuters, his company may stop its operations in the European Union. The reason is that unless Brussels revises the sustainable development law, this measure cannot be ruled out.
According to this law, if companies do not meet the sustainable development indicators, they will be fined 5 percent of their global turnover. Darren Woods noted that ExxonMobil is strictly opposed to this directive and warned that if the law is adopted as is, it could have "disastrous consequences".
So far, negotiations to revise the document have not produced significant results. According to Reuters, Brussels plans to consider making amendments to the document by the end of the year.
This law has also been negatively received by Qatar. Doha, which supplies Europe with liquefied gas, is demanding that this document be canceled or softened.
"We cannot reduce emissions to zero, and that is, among other requirements, one of the major conditions," said QatarEnergy CEO Saad al-Kaabi.
