Exxon's Tillerson appears with Rosneft's Sechin at Moscow energy summit


Exxon Mobil (XOM +0.2%) CEO Rex Tillerson talked up his company’s prospects in Russia, appearing at an energy summit in Moscow today alongside Rosneft CEO Igor Sechin, despite U.S. sanctions against the Russian exec with close ties to Vladimir Putin.

XOM plans to drill its first well in Russia's Arctic waters, targeting a formation that could hold more than 8B barrels of oil, in one of its most promising chances to discover new oil reserves; in addition to the Kara Sea exploration, XOM’s alliance with Rosneft includes exploration in the Sakhalin Islands and Siberia, and joint venture fields in Texas.

Sechin says its relationship with XOM is “business as usual.”

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Comments (11)
  • ghoxster
    , contributor
    Comments (18) | Send Message
     
    We need to hold our CEO's as accountable as we demand of other countries. This is spoken despite the fact that XOM is not largest holding. Someone in the State Dept needs to get on his case.
    16 Jun 2014, 12:08 PM Reply Like
  • snoopy44
    , contributor
    Comments (1492) | Send Message
     
    Yeah, somebody ask "Lurch" (Kerry) to call Tillerson on the carpet. I am sure Tillerson will be impressed with hearing from that idiot.
    16 Jun 2014, 02:54 PM Reply Like
  • Sakelaris
    , contributor
    Comments (2680) | Send Message
     
    Exxon knows that Russia and its energy potential will be around long after the US gets tired of its current policy of backing the foolishness of the Ukrainians.
    16 Jun 2014, 12:11 PM Reply Like
  • fossilfree
    , contributor
    Comments (58) | Send Message
     
    Another glaring example of XOM's arrogance.
    16 Jun 2014, 12:23 PM Reply Like
  • User 353732
    , contributor
    Comments (5166) | Send Message
     
    XOM has more strategic sense and understanding of geo strategic change than the US Regime.
    Asia needs energy ..Russia is willing to provide it; unlike the US Regime which is anti free trade in energy ; denies Canada access to markets and allies in Europe and Asia access to US oil while delaying approval of LNG projects.
    When it come to energy the world trusts the Russian Regime far more than the US Regime
    16 Jun 2014, 12:47 PM Reply Like
  • snoopy44
    , contributor
    Comments (1492) | Send Message
     
    I think the "teleprompter-in-chief" just got the middle finger salute from Tillerson.
    16 Jun 2014, 01:18 PM Reply Like
  • Larry Smith
    , contributor
    Comments (3188) | Send Message
     
    Tlllerson has a fiduciary responsibility to protect the shareholders interests. Speaking at a conference in Russia won't change the path of what is occurring in the Ukraine one iota. No one would even know if it wasn't posted as a news story.
    16 Jun 2014, 02:14 PM Reply Like
  • ChasesPlace
    , contributor
    Comments (27) | Send Message
     
    Keep your friends close, your enemies closer. Especially if they have oil? We even have Americans inside Rosneft and Russians send us money for weapons to kill them later when the time is right.
    16 Jun 2014, 11:03 PM Reply Like
  • Ben in Pa
    , contributor
    Comments (4) | Send Message
     
    Exxon should move its headquarters to Canada.
    17 Jun 2014, 03:17 PM Reply Like
  • Ben in Pa
    , contributor
    Comments (4) | Send Message
     
    I'm a long time Exxon shareholder; and, a large energy investor.
    17 Jun 2014, 03:17 PM Reply Like
  • comsense8
    , contributor
    Comments (25) | Send Message
     
    Anyone would think that a country like ours that uses around 20 million bls of crude every day would have a great energy policy. Think about the magnitude of losing 5% or only 1 million per day where all of our industry depends on it. Where is our common sense?
    17 Jun 2014, 06:11 PM Reply Like
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