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Russia's Medvedev: Shelf Development Program Should be Reworked

By James Marson MOSCOW--Russian Prime Minister Dmitry Medvedev Thursday ordered the government's shelf-development program to be reworked in order to attract private oil and gas companies to develop the country's vast, but mostly untapped, energy resources in the Arctic. At a government meeting broadcast live on television, Mr Medvedev instructed a working group, headed by Deputy Prime Minister Arkady Dvorkovich, to report back with a finalized program in three months. Russia needs to attract money and expertise to develop its deposits on the Arctic shelf. Russian companies including TNK-BP (TNBP.RS) and Lukoil Holdings (LKOH.RS) have expressed an interest in developing the shelf in partnership with state companies. Russia's state-owned OAO Rosneft (ROSN.RS) has in recent months signed long-term deals with Exxon Mobil Corp. (XOM), Eni SpA (E) and Statoil ASA (STO) to develop offshore oil and gas reserves. Russia plans increase its continental shelf natural-gas production, to 230 billion cubic meters by 2030 from a current 57 billion cubic meters, while shelf oil production is expected to increase to 66.2 million metric tons from 13 million tons, Medvedev said. -Ira Iosebashvili and Alexander Kolyandr contributed to this item. Write to James Marson at james.marson@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Exxon Mobil (XOM)
DateTimeHeadline
03/27/201715:57:24Current Report Filing (8-k)
03/24/201717:00:00ExxonMobil Recommends Shareholders Reject the Below-Market Mini-Tender...
03/16/201723:08:00Exxon Rejects New York's Accusations in Climate Case
03/16/201722:49:00Exxon Rejects New York's Accusations in Climate Case
03/16/201714:55:22Statement of Changes in Beneficial Ownership (4)
03/15/201717:47:00Many Executives Use Numerous Email Addresses, But Few Adopt Alter...
03/15/201709:00:00ExxonMobil to Release 2016 Financial and Operating Review
03/15/201703:04:00Australia Gets Commitment From Gas Producers to Increase Domestic...
03/14/201706:00:00Buckhorn Energy Services, LLC Enters Into Service Agreement with...
03/13/201720:50:00Rex Tillerson Used Alias Email at Exxon to Discuss Climate Change...
03/10/201712:19:10Automatic Shelf Registration Statement of Securities of Well-known...
03/10/201703:02:00Shell Deals Forsake Canada's Oil Sands -- WSJ
03/09/201715:53:00Shell to Sell Canadian Oil-Sands Business for $7.25 Billion...
03/09/201708:33:00Exxon Buys Stake in Offshore Mozambican Natural Gas Field for...
03/09/201708:08:00Watch now: BizWireTV Covers the Most Anticipated Gaming Console...
03/09/201706:41:00Shell to Sell Canadian Oil-Sands Business for $7.25 Billion...
03/09/201706:00:00ExxonMobil to Acquire 25 Percent Interest in Mozambique Area...
03/08/201707:29:00Oil Companies Take to Thrifty Bets
03/07/201711:31:38Current Report Filing (8-k)
03/06/201722:25:00Trump Praise for Exxon Follows Meeting With Tillerson, Ex-CEO

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