Rosneft to gain access to N. American energy sources through Exxon dealApril 13, 2012 - 21:00 AMT PanARMENIAN.Net - Russian state oil firm Rosneft will gain access to North American energy sources and know-how for developing hard-to-produce reserves when it finalizes a joint venture with Exxon Mobil Corp on Monday, April 16 industry sources said, according to Reuters. Rosneft was offered a role in seven projects under its landmark deal last year with the biggest U.S. oil company, which could open up 36 billion barrels of oil in the Arctic offshore and help keep Russia's place as the world's top producer. Rosneft chose three Exxon projects to start with - in West Texas, the U.S. Gulf of Mexico and in Canada's province of Alberta - and will gain minority interests in them, the sources said. Further projects may eventually be pursued. Rosneft's focus in North America will be on so-called unconventional hydrocarbons - including resources such as shale oil and shale gas. It will seek to deploy the advanced recovery methods used there at its own fields in Siberia. Russia's oil tsar, Deputy Prime Minister Igor Sechin, will present the project to analysts with Exxon's CEO, Rex Tillerson, and the head of Rosneft, Eduard Khudainatov, on Wednesday in New York, according to an invitation to the event. Finalizing the joint venture will mark a major turnaround for Exxon, which scaled back its presence in Russia after failing to take over the country's largest oil company Yukos, whose boss, Mikhail Khodorkovsky, was arrested in 2003. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. |