ExxonMobil Will Join Rosneft To Develop Russian Offshore Fields

After several rounds of speculations market finally got the news that Rosneft has found new strategic partner to develop its offshore deposits. British Petroleum will be replaced by US holding and world’s largest public oil company ExxonMobil.

Agreement with Exxon would be similar to the one Rosneft had planned to sign with BP in the beginning of this year, Russian newspaper Vedomosti reports in its article. Global mission for the cooperation is the development of Russian shelf deposits. For this companies has agreed to create Joint Venture with 66,7% stake of Rosneft and remaining 33,3% belonging to ExxonMobil. 

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Shell Can Become New Rosneft Partner For Development Of Arctic Shelf

Russian newspapers has recently reported from the briefing held by prime minister Vladimir Putin that Royal Dutch Shell can become Rosneft’s partner for development of Arctic shelf on the same terms as has been worked out previously with BP.

Prime minister has noted successful partnership between Shell and Russia, noting that government feels free about which foreign company would Rosneft pick as its partner, whether the partnering terms would be beneficial for Russia. 

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Rosneft may buy stakes in four German refineries

The Wall Street Journal reported on Friday that Rosneft is looking to buy Petroleos de Venezuela SA's 50% stake in Ruhr Oel, which controls a total capacity of 23.4 mln tpy via stakes in four German refineries. Other half of Ruhr company reportedly belongs to British Petroleum. The price tag would reportedly be somewhere between US$1-2 billion.

BP has the right of first refusal, and in exchange for giving up that right, it would be offered “a lucrative deal by Rosneft to explore for oil in the Arctic Ocean”, the Wall Street Journal said, citing unnamed sources.The price would come to $85-170/tonne of annual throughput. This compares, for instance, with LUKoil paying $270/tonne for a stake in the ISAB Refinery in Sicily. So, on first glance, this looks very interesting for Rosneft, especially as the experienced BP would likely remain in charge of operations.

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