Aug 30, 2011
Exxon Mobil (NYSE:XOM) and Rosneft teamed up with U.S. company ExxonMobil to develop Russian Arctic oil fields, that had eluded BP earlier this year.
Rustam Kazharov, a spokesman for Rosneft told the Associates Press the deal was signed Tuesday in the presence of Russia's Prime Minister Vladimar Putin.
Rosneft struck a deal with BP in January to jointly increase Russia's Arctic but the deal fell through after BP's Russian shareholders managed to block the deal.
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