ExxonMobil and Rosneft to Develop Arctic Oil in $500 Billion Deal
On
Monday, at the suburban residence of Russian Prime Minister Vladimir
Putin, the chiefexecutives of the US and Russian oil giants, ExxonMobil
and Rosneft, signed a deal to collaborate in the development of oil and
natural gas fields in Russia and North America. The agreement was
officially announced on Wednesday and holds the potential for $500
billion to be invested in the exploration and production of oil in the
Arctic and the Black Sea. The joint venture will grant Exxon access to
some of the world’s richest sources of crude oil and…Read more...
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