ExxonMobil (XOM -1.2%) and Russia's state-owned Rosneft form a strategic alliance to jointly...

|About: Exxon Mobil Corporation (XOM)|By:, SA News Editor

ExxonMobil (XOM -1.2%) and Russia's state-owned Rosneft form a strategic alliance to jointly explore and develop hydrocarbon resources in Russia, the U.S. and elsewhere. ExxonMobil will provide Rosneft with an opportunity to buy equity in a number of its projects, but it may want to be wary of Rosneft's track record of dealing with foreign oil firms.