GasBuddy News Article

votes

Exxon's New International Edge: Domestic Reserves

Forbes -- Well, that was a turn up for the books. Exxon Mobil has managed to put the finishing touches on a US$3.2bn upstream oil deal with Rosneft to gain a stake in Arctic production (effective Monday, 16th April). Tax tweaks and export duty exemptions by Vladimir Putin certainly helped Exxon to put pen to paper, but in return, the US oil giant had to give Rosneft access to North American hydrocarbon plays. This is an old-school swap agreement – what’s more, Washington should expect many more deals to follow. US oil majors have a new chip to expand their global footprints; offering access to domestic reserves. They will use them.

The deal makes considerable sense for Exxon. It has basically acquired first mover advantage to access Russia’s Arctic oil riches for a commodity (Ural grades)

Read the Full Article

Submitted Apr 16, 2012 By: eromitlab

Back To News

Category: Daily News Article Discussions > Topics	Add to favorite topics

Author	Topic: Exxon's New International Edge: Domestic Reserves	Post a Reply Back to Topics

REPLIES (newest first)Ignore Short Messages

First Prev

Next Last

kitty1750 Champion Author Kitchener-Waterloo Posts:2,199 Points:470,675 Joined:Jun 2011	Message Posted: Apr 16, 2012 10:37:13 PM Ignore kitty1750 Report Abuse No comment.
tucker355 Champion Author Manitoba Posts:1,802 Points:450,120 Joined:Feb 2009	Message Posted: Apr 16, 2012 10:31:54 PM Ignore tucker355 Report Abuse Like they need another edge to make...I mean to take our money!!!
DustyHorse Champion Author Virginia Posts:6,224 Points:1,417,780 Joined:Oct 2008	Message Posted: Apr 16, 2012 10:29:32 PM Ignore DustyHorse Report Abuse Interesting.
MG_Sputnik Champion Author Philadelphia Posts:7,439 Points:1,987,820 Joined:Apr 2006	Message Posted: Apr 16, 2012 10:28:15 PM Ignore MG_Sputnik Report Abuse They have to do something with the gazillion dollars a year they fleece out of us.
skyking19 Champion Author Little Rock Posts:2,021 Points:1,723,490 Joined:Jan 2007	Message Posted: Apr 16, 2012 10:27:39 PM Ignore skyking19 Report Abuse What's the impact to us?
bvrbill Champion Author Eugene Posts:3,445 Points:546,325 Joined:Jul 2011	Message Posted: Apr 16, 2012 10:26:32 PM Ignore bvrbill Report Abuse If this means lower prices for American consumers, I'm for it. Keep the leverage away from the Russians.
300kmiles All-Star Author Orange County Posts:534 Points:422,870 Joined:Dec 2009	Message Posted: Apr 16, 2012 10:25:59 PM Ignore 300kmiles Report Abuse Let's get it on!
Yonkers111 Champion Author Scranton Posts:8,342 Points:859,135 Joined:Apr 2007	Message Posted: Apr 16, 2012 10:20:17 PM Ignore Yonkers111 Report Abuse Oil likes to have plenty of partners.
gmcgas Champion Author Atlanta Posts:6,094 Points:1,741,870 Joined:Mar 2004	Message Posted: Apr 16, 2012 10:19:17 PM Ignore gmcgas Report Abuse stupid.
DriverofRed Champion Author Calgary Posts:2,308 Points:436,810 Joined:Dec 2011	Message Posted: Apr 16, 2012 10:18:03 PM Ignore DriverofRed Report Abuse ok
waynemustang Champion Author Indiana Posts:6,470 Points:1,691,235 Joined:Nov 2006	Message Posted: Apr 16, 2012 10:17:51 PM Ignore waynemustang Report Abuse Finally, good for American oil company.
babugp Veteran Author Philadelphia Posts:339 Points:76,685 Joined:Mar 2012	Message Posted: Apr 16, 2012 10:14:56 PM Ignore babugp Report Abuse kool
iamforiu Champion Author Indiana Posts:3,715 Points:739,440 Joined:May 2011	Message Posted: Apr 16, 2012 10:14:47 PM Ignore iamforiu Report Abuse ok
kiosk12y Champion Author Tulsa Posts:3,714 Points:704,610 Joined:Mar 2011	Message Posted: Apr 16, 2012 10:08:40 PM Ignore kiosk12y Report Abuse k
themaninthehat Champion Author New Orleans Posts:1,824 Points:472,265 Joined:Feb 2011	Message Posted: Apr 16, 2012 10:08:29 PM Ignore themaninthehat Report Abuse Exxon's bigger edge: high profits, less regulation thanks to extreme lobbying.
humancry Champion Author Michigan Posts:4,620 Points:1,003,470 Joined:Nov 2006	Message Posted: Apr 16, 2012 10:06:39 PM Ignore humancry Report Abuse Bring it on.
drobbbb Champion Author Maryland Posts:3,595 Points:837,985 Joined:Dec 2010	Message Posted: Apr 16, 2012 10:06:19 PM Ignore drobbbb Report Abuse now we know what oil companies will do with more of our oil
carman11 Champion Author North Carolina Posts:3,485 Points:720,400 Joined:Jun 2011	Message Posted: Apr 16, 2012 10:05:14 PM Ignore carman11 Report Abuse OK
gasaholicMO Champion Author Missouri Posts:2,621 Points:510,940 Joined:Apr 2010	Message Posted: Apr 16, 2012 10:04:43 PM Ignore gasaholicMO Report Abuse Hope they flood the market with oil.
BigBob12345 Champion Author Gasbuddy Posts:1,521 Points:304,730 Joined:Aug 2011	Message Posted: Apr 16, 2012 10:04:04 PM Ignore BigBob12345 Report Abuse OK
movietracker All-Star Author Pennsylvania Posts:695 Points:162,790 Joined:Mar 2011	Message Posted: Apr 16, 2012 9:58:37 PM Ignore movietracker Report Abuse Ok
ericbcire Champion Author Nevada Posts:4,665 Points:1,295,410 Joined:Aug 2009	Message Posted: Apr 16, 2012 9:57:15 PM Ignore ericbcire Report Abuse If they can't get oil in the US, they'll continue to look elsewhere.
GRUMPY55 Champion Author California Posts:1,671 Points:434,115 Joined:Oct 2011	Message Posted: Apr 16, 2012 9:56:41 PM Ignore GRUMPY55 Report Abuse ok
Tucker1961 Champion Author Seattle Posts:2,157 Points:363,170 Joined:Jun 2009	Message Posted: Apr 16, 2012 9:50:57 PM Ignore Tucker1961 Report Abuse oil gets another break
AcuraTSX Champion Author Ohio Posts:5,631 Points:2,208,855 Joined:Dec 2005	Message Posted: Apr 16, 2012 9:46:22 PM Ignore AcuraTSX Report Abuse ok
seabrz7 Champion Author California Posts:1,400 Points:224,810 Joined:Feb 2012	Message Posted: Apr 16, 2012 9:44:59 PM Ignore seabrz7 Report Abuse ok
colaguy Champion Author Columbia Posts:3,229 Points:1,021,735 Joined:Oct 2008	Message Posted: Apr 16, 2012 9:44:51 PM Ignore colaguy Report Abuse good for them
vroomputtputt Veteran Author Oregon Posts:275 Points:62,785 Joined:Mar 2012	Message Posted: Apr 16, 2012 9:41:03 PM Ignore vroomputtputt Report Abuse ok, yup
CapNC Veteran Author North Carolina Posts:398 Points:377,980 Joined:Jul 2011	Message Posted: Apr 16, 2012 9:39:19 PM Ignore CapNC Report Abuse there has got to be some fine print somewhere so that NOBAMMA will drag them down
jetlagAK Champion Author Anchorage Posts:2,256 Points:644,575 Joined:Jan 2010	Message Posted: Apr 16, 2012 9:39:11 PM Ignore jetlagAK Report Abuse First our jobs, then our economy were baracked. Now our domestic oil reserves are being shipped off too? Anyone Else 2012!
Go_E85 Champion Author Orange County Posts:2,364 Points:181,880 Joined:Dec 2007	Message Posted: Apr 16, 2012 9:38:59 PM Ignore Go_E85 Report Abuse It should be illegal for these a$$h0les to sell our reserves while dozes of dumb red-necks scream "drill, drill, drill".
puckheadmn Champion Author Twin Cities Posts:1,260 Points:1,132,815 Joined:Jul 2008	Message Posted: Apr 16, 2012 9:37:26 PM Ignore puckheadmn Report Abuse OK
TDIdave Champion Author California Posts:5,193 Points:1,252,215 Joined:May 2006	Message Posted: Apr 16, 2012 9:34:21 PM Ignore TDIdave Report Abuse Interesting.
KMaria13 Rookie Author Raleigh Posts:60 Points:12,930 Joined:Apr 2012	Message Posted: Apr 16, 2012 9:32:41 PM Ignore KMaria13 Report Abuse Exxons corner on market - pain :(
dancygreen Champion Author Twin Cities Posts:2,193 Points:512,345 Joined:Sep 2011	Message Posted: Apr 16, 2012 9:29:36 PM Ignore dancygreen Report Abuse ok
Hemi3tc Veteran Author Vancouver Posts:297 Points:302,390 Joined:Feb 2012	Message Posted: Apr 16, 2012 9:27:57 PM Ignore Hemi3tc Report Abuse Russia sold Alaska to the USA for $7.2M.
timbyus1 Champion Author Fort Worth Posts:2,103 Points:419,190 Joined:Mar 2012	Message Posted: Apr 16, 2012 9:25:14 PM Ignore timbyus1 Report Abuse read
shea33 Champion Author Pensacola Posts:2,508 Points:570,640 Joined:Oct 2011	Message Posted: Apr 16, 2012 9:25:09 PM Ignore shea33 Report Abuse where's China?
Blue48 Champion Author Illinois Posts:7,450 Points:1,666,620 Joined:Feb 2007	Message Posted: Apr 16, 2012 9:24:34 PM Ignore Blue48 Report Abuse WE SHALL SEE WHAT HAPPENS!
swrestler Champion Author Grand Rapids Posts:6,279 Points:1,599,730 Joined:Oct 2008	Message Posted: Apr 16, 2012 9:23:50 PM Ignore swrestler Report Abuse Big Oil Is Getting Richer....
pickledude72 Champion Author California Posts:1,121 Points:841,240 Joined:Jul 2008	Message Posted: Apr 16, 2012 9:23:19 PM Ignore pickledude72 Report Abuse MAKES ONE SICK TO THINK ABOUT IT
RBob Champion Author Portland Posts:3,470 Points:2,373,655 Joined:May 2004	Message Posted: Apr 16, 2012 9:18:58 PM Ignore RBob Report Abuse The big get bigger and the rich get more of our money.
silverfoxv65 Champion Author Michigan Posts:4,623 Points:1,257,450 Joined:Sep 2009	Message Posted: Apr 16, 2012 9:18:40 PM Ignore silverfoxv65 Report Abuse I hate to see anything come about with russia!
peanutsMN Champion Author Twin Cities Posts:1,828 Points:413,590 Joined:Jul 2011	Message Posted: Apr 16, 2012 9:16:11 PM Ignore peanutsMN Report Abuse OK
drz614 Champion Author Harrisburg Posts:2,444 Points:626,295 Joined:Aug 2011	Message Posted: Apr 16, 2012 9:04:34 PM Ignore drz614 Report Abuse gotta get to $7 a gallon somehow.
DCbeachbum Champion Author South Carolina Posts:2,667 Points:926,365 Joined:May 2010	Message Posted: Apr 16, 2012 9:04:12 PM Ignore DCbeachbum Report Abuse Good for Exxon. I hope they continue to make great profits.
hcivic Champion Author Virginia Posts:3,994 Points:2,293,415 Joined:Aug 2005	Message Posted: Apr 16, 2012 9:01:10 PM Ignore hcivic Report Abuse good 4 them
Krykson All-Star Author Chicago Posts:840 Points:247,385 Joined:Jul 2006	Message Posted: Apr 16, 2012 8:58:24 PM Ignore Krykson Report Abuse Interesting
Mowerman08 Champion Author Milwaukee Posts:4,883 Points:1,244,230 Joined:Aug 2008	Message Posted: Apr 16, 2012 8:53:52 PM Ignore Mowerman08 Report Abuse Can't drill in the U.S. arctic, cross the water and suck it out from a different location.
jdc17327 Champion Author Pennsylvania Posts:2,582 Points:199,730 Joined:May 2009	Message Posted: Apr 16, 2012 8:52:37 PM Ignore jdc17327 Report Abuse okay
mgune9 All-Star Author Dallas Posts:914 Points:200,395 Joined:Feb 2012	Message Posted: Apr 16, 2012 8:51:19 PM Ignore mgune9 Report Abuse our government really doesn't care if we get cheaper gas -- it's a fossil fuel and we need to be more like europe ---- so they say
thirty8paces Champion Author Baltimore Posts:4,626 Points:1,129,655 Joined:Sep 2008	Message Posted: Apr 16, 2012 8:49:17 PM Ignore thirty8paces Report Abuse Alrighty then.