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 | Russia clarifying reports on Baku’s alleged arms supply to Ukraine Russia says is carefully working to verify reports about alleged arms supplies from Azerbaijan to Ukraine Russia warns Armenia against “falling into West’s trap” Zakharova maintained, however, that anything that will benefit the people of Armenia can only be welcomed. CSTO: Armenia has not participated in secretariat’s work recently Recently Armenia has not participated in the work of the secretariat of the CSTO, Imangali Tasmagambetov said. Meeting with U.S., EU not against third parties, says Armenia The meeting scheduled for April 5 is dedicated to strengthening of the Armenia-EU-US cooperation, Yerevan added. |