Exxon's New International Edge: Domestic Reserves
Sat, 14 Apr 2012 23:47:53 CDT forbes.com
Well, that was a turn up for the books. Exxon Mobil has managed to put the finishing touches on a US$3.2bn upstream oil deal with Rosneft to gain a stake in Arctic production (effective Monday, 16th April). Tax tweaks and export duty exemptions by Vladimir Putin certainly helped Exxon to put pen to paper, but in return, the US oil giant had to give Rosneft access to North American hydrocarbon plays. This is an old-school swap agreement ? what?s more, Washington should expect many more deals to follow. US....
