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Rosneft teams up with ExxonMobil in Arctic deal

Russia’s state-owned Rosneft teamed up with U.S. company ExxonMobil on Tuesday in a multibillion deal to develop offshore oil fields in the Russian Arctic — one of the last regions with immense and untapped hydrocarbon deposits — in return for access to resources in the Gulf of Mexico.

Because Rosneft does not have its own technology for deep sea drilling, it was looking for partners to develop the offshore projects in the Arctic and other regions of Russia. A deal it was pursuing with Britain’s BP earlier this year fell through, leaving the path open for ExxonMobil.

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  • Supertad108

    Are you kidding me? Giving up the rights and/or access to OUR oil simply by helping them get to there’s. Shouldn’t it be the other way around? Stupid is stupid does. So if I get this correctly, ExxonMobil needed cash so in order to get it it gave up some of our oil resources?

    “I’d like to emphasize the exclusiveness of these decisions for Russian companies … that until today were not able to develop existing deposits in the U.S.”

    WTF? Maybe there was a reason you were not able to drill in the US, because.. IT IS IN THE US knucklehead! But never fear greed is always near.

    • Gordon

      Supertad, Please if your not sure of your facts, say in my opinion. ExxonMobil is not in need of cash. It is one of the finest multinational corporations on this planet. They drill
      for oil and gas all over the world. They developed the insulator film used for the batteries
      used in “Green” cars. A new inner seal for tires to maintain better pressure. 600 Million
      in alternate fuel research from algae. Developed deep offshore drilling in depths greater
      then 10,000 feet. Yes it goes on and on. And all this with a 10% profit. Oh I almost
      forgot there downstream petrochemical R and D. Plastics for every damn thing you use
      on a daily basis. A fine American Company.

      • Bruno Boccagalupe

        Gordo how do you know that exxon is not short of cash. Are you personally privvy to their books? No, Not the annual report. And yes they are /were a very fine company. At one time, this country was a very fine country. However, situations do change. We as a nation are not nearly the nation we once were. We have allowed ourselves to erode from within. Our morals have been corrupted from within.

  • Jim

    Pretty soon you will be able to see Russia from Alaska – at least their deep drilling oil rigs, courtesy of Exxon.

  • Dan Clamage

    The US rebuffs Shell Oil for permission to drill in the Arctic… Exxon gets permission from Russia to drill in their Arctic. WTF. Seems the oil companies know who the right people are to get permission to drill for oil.

  • Betty Salsbury

    Your right, stupid is as stupid does. We could have let them drill in our arctic. We could stop the EPA from the foolishness that keeps us dependent on foreign oil, but we don’t. Stupid is as stupid does.

  • David

    Please actually read the article before you respond to posts like this…..quit wasting my time!!

    Exxon is drilling there because the Russians don’t have the technology to do it themselves….the amount of oil in the Arctic is way more than what is in the Gulf so they are just doing smart business…..This is the same reason that Haliburton gets contracts to do infrastructure and pipeline business in the Middle East….they are the best at what they do so it is cheaper to allow them to do it than to try to develop the technology on your own!!

    This is just about business!!

  • THOMAS STEWART

    One-More Reason We Need Pres Sarah Palin, When Our Imposter Muslin Pres Obama Votes “Present” Means He Has Not A Clue About Anything But “Organizer” Yikeess. Drill Baby Drill With Sarah Palin President Of The USA Nov 2012, Read Her Great Book “Going Rogue” The Oil Companies Fear Sarah, God Bless America And The Tea Party Patriots.

  • Bruno Boccagalupe

    Read recently where russia is going to allow a tunnel under the bering sea. That will connect the US with russia Stupid is as stupid does What is going on with this tom foolery? Bigger I’m told than the “Chunnel”. Do the USA & Russia do that much commerce? I cannot se where this piece of engineering would do this country a bit of good. More harm to us than good by far.

  • http://facebook ADRoberts

    One step closer to a One World Business and a One World Order.

    I guess only Sarah Palin could have stopped this one.

  • Bob Marshall

    Someone mentioned the New World Order. “THe United States must stop resisting the orderly decline of the dollar, the coming gobal currency and the New World Order’ Goerge Soros has anyone read about the North American Union, the European Union, the Asian Union and the African Union? Every president from Clinton forward spoke of the New World Order. It started with the emercence of the United Nations and has steadily gained ground. Too many still fail to realize the dangers of REX 84 and Agenda 21. These came from the UN. Many of our national Parks are now under the control of the UN. China has purchased land in America. The propsed super hiway will be for China to move its goods from ports in Mexico through the US into Canada. In my latest foreign Magazine ,the CFR magazine, they are saying China will become the new economic power.

  • Bob Marshall

    George Soros, didn’t mean to spell the communist bastard’s name incorrectly!