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Rosneft, Statoil Agree On JV To Develop Russia Arctic -Sources

MOSCOW -(Dow Jones)- Russian state oil company OAO Rosneft (ROSN.RS) and Norway's Statoil ASA (STO, STL.OS) have agreed to form a joint venture to develop Russia's mostly untapped offshore energy resources in the Arctic and are expected to sign the deal later Saturday, two people familiar with the matter told Dow Jones Newswires. The deal is expected to be structured similar to the ones Rosneft signed in April with Exxon Mobil Corp. (XOM) and Italy's Eni SpA (E, ENI.MI) and follows Russia's approval of long-awaited tax breaks for the potentially rich offshore fields. Russia is willing to give a prominent role to foreign companies willing to develop the shelf, Russia's energy czar, deputy Prime Minister Igor Sechin, said April 16, following the deal with Exxon. An industry source said the role of Sechin, who is expected not to join the new Russian government to be announced in the following days, was prominent at all the three deals. Rosneft declined to comment. Statoil wasn't available for comment. -By Alexander Kolyandr, Dow Jones Newswires; +7 495 232-9192 alexander.kolyandr@dowjones.com

Stock News for Exxon Mobil (XOM)
DateTimeHeadline
02/05/201618:37:25Statement of Changes in Beneficial Ownership (4)
02/05/201615:31:41Statement of Changes in Beneficial Ownership (4)
02/05/201603:03:00Pay Dividends Or Keep Ratings
02/04/201614:30:00Suncor CEO Vows to Protect Dividend Amid Oil-Price Swoon
02/03/201623:10:00Canadian Oil Giant Suncor Energy Posts Loss
02/03/201617:47:00Oil Prices Rise 8% on Weak Dollar, Despite Daunting Supply Data
02/03/201617:23:00MARKET SNAPSHOT: Bipolar Dow Industrials Ends Sharply Higher...
02/03/201617:19:00MARKET SNAPSHOT: Bipolar Dow Industrials Ends Sharply Higher...
02/03/201615:57:00Oil Prices Rise 8% on Weak Dollar, Despite Daunting Supply Data
02/03/201615:53:00MARKET SNAPSHOT: Wall Street Pivots Higher; Dow Sees Triple-digit...
02/03/201603:02:00Crude Slump Pressures Exxon, BP
02/03/201602:00:00Crude Oil Stays Below $30 a Barrel
02/02/201620:50:00Japan's Shares Fall Sharply
02/02/201620:10:00Oil Slump Pressures Exxon, BP Results
02/02/201619:59:00Oil Slump Pressures Exxon, BP Results
02/02/201617:00:00S&P Cuts Ratings of 10 U.S. Oil Companies
02/02/201614:54:00Exxon Mobil Profit Tumbles 58% -- 3rd Update
02/02/201612:05:00Exxon Gets OK to Truck Crude Oil on California Highway -- Update
02/02/201611:44:00Exxon Mobil Profit Tumbles 58%-- 2nd Update
02/02/201609:10:00Exxon Mobil Profit Tumbles 58%--Update

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