Bloomberg: Rosneft discussing taking stake in Exxon Kurdish blocks


Exxon Mobil (XOM) reportedly is negotiating to bring Rosneft (RNFTF) into oil and gas licenses in Iraq’s Kurdistan region, as the largest U.S. and Russian oil companies forge ahead with a global alliance even amid strained relations between the two governments.

An XOM-operated venture with Rosneft at Sakhalin Island plans to begin pumping oil off Russia’s Pacific coast this year, and the two companies are working on ventures to explore the Arctic Ocean, test the potential of shale oil in Russia and pump crude in Texas.

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Comments (2)
  • User 353732
    , contributor
    Comments (5161) | Send Message
     
    The difference between XOM and Wash DC in dealing with the Russians is that the Kremlin respects and needs the former while it has contempt for the latter.
    XOM executes on its global commitments; Wash DC does not
    26 Mar 2014, 02:13 PM Reply Like
  • Bob Carl
    , contributor
    Comments (335) | Send Message
     
    And Tillerson is an old Russian hand. Whether that means anything today is debatable, but it should help. But, yes, as Lee Raymond once said (in so many words), "XOM is not an American company and management is accountable only to its shareholders not the US Government." In effect, XOM has its own foreign policy.
    26 Mar 2014, 11:30 PM Reply Like
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