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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)

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Submitted Apr 16, 2012 By: eromitlab

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honda0105 Champion Author Tallahassee Posts:18,623 Points:1,609,520 Joined:Nov 2008	Message Posted: Apr 19, 2012 2:59:09 AM Ignore honda0105 Report Abuse Russia already bit the oil companies in the tail. Remember Kamchatka and Sacchalin?
sparky808 Champion Author Honolulu Posts:2,998 Points:597,735 Joined:Sep 2011	Message Posted: Apr 17, 2012 10:27:01 AM Ignore sparky808 Report Abuse Thank you for posting.
HawaiianGuy Champion Author Idaho Posts:9,528 Points:3,078,950 Joined:May 2003	Message Posted: Apr 17, 2012 8:27:36 AM Ignore HawaiianGuy Report Abuse This partnership surely makes for quite strange bedfellows.
bikerchicklette Champion Author Washington Posts:5,889 Points:1,296,720 Joined:Sep 2005	Message Posted: Apr 17, 2012 7:23:00 AM Ignore bikerchicklette Report Abuse interesting
BartBuzz Champion Author Atlanta Posts:8,880 Points:1,774,785 Joined:Aug 2006	Message Posted: Apr 17, 2012 4:57:26 AM Ignore BartBuzz Report Abuse Drilling in the homeland is the near-term answer. By near-term I mean the next 20-30 years. Alternative energy needs to be much more cost competitive and that will take many years for solar and wind. Even a new nuclear plant takes a decade to get on line. But the US only talks energy independence. Smoke and mirrors won't work.
N5EXY Champion Author Austin Posts:5,490 Points:1,509,590 Joined:Jul 2004	Message Posted: Apr 16, 2012 10:02:16 PM Ignore N5EXY Report Abuse Trickle down.
menagerie1013 Champion Author San Diego Posts:2,365 Points:689,240 Joined:Apr 2011	Message Posted: Apr 16, 2012 9:24:32 PM Ignore menagerie1013 Report Abuse Big oil gets bigger.
yakstar Champion Author Montreal Posts:2,415 Points:479,070 Joined:Jan 2012	Message Posted: Apr 16, 2012 9:08:31 PM Ignore yakstar Report Abuse it doesn't do anything...it's just another news blog...
Blue_Cruzer Champion Author Lexington Posts:7,515 Points:1,668,610 Joined:Mar 2007	Message Posted: Apr 16, 2012 9:02:44 PM Ignore Blue_Cruzer Report Abuse What does this do to help bring down prices at the pump?
camel1 Champion Author Minnesota Posts:8,265 Points:2,265,640 Joined:Jul 2006	Message Posted: Apr 16, 2012 8:55:01 PM Ignore camel1 Report Abuse Good for tnem
tippybuddy Champion Author Ontario Posts:1,523 Points:207,740 Joined:Feb 2011	Message Posted: Apr 16, 2012 8:54:52 PM Ignore tippybuddy Report Abuse ok
jessek Champion Author Detroit Posts:2,657 Points:1,280,490 Joined:Sep 2008	Message Posted: Apr 16, 2012 8:54:50 PM Ignore jessek Report Abuse Another way for the oil companies to make money. If there's a way they will find it.
MDTDriver Champion Author California Posts:9,724 Points:2,154,645 Joined:Jul 2006	Message Posted: Apr 16, 2012 8:50:37 PM Ignore MDTDriver Report Abuse Sounds like higher prices, but then why not. Ready to sell all my cars.
DandyDapple All-Star Author North Dakota Posts:715 Points:310,820 Joined:Sep 2008	Message Posted: Apr 16, 2012 8:46:07 PM Ignore DandyDapple Report Abuse OMG 2012 ...
bevmill Champion Author Georgia Posts:2,577 Points:600,320 Joined:Apr 2006	Message Posted: Apr 16, 2012 8:45:20 PM Ignore bevmill Report Abuse ok
ByGuy Champion Author Dallas Posts:7,843 Points:1,707,290 Joined:Nov 2005	Message Posted: Apr 16, 2012 8:43:26 PM Ignore ByGuy Report Abuse Yes, we need more independence and away from foreign supplies.
tco9436 Champion Author Connecticut Posts:1,772 Points:722,175 Joined:Mar 2010	Message Posted: Apr 16, 2012 8:42:14 PM Ignore tco9436 Report Abuse Ok
treeguy Veteran Author Wisconsin Posts:267 Points:653,990 Joined:Aug 2005	Message Posted: Apr 16, 2012 8:41:41 PM Ignore treeguy Report Abuse Whatever this means, the net result is higher prices at the pump.
mikaye Champion Author Cleveland Posts:3,829 Points:864,435 Joined:Jun 2010	Message Posted: Apr 16, 2012 8:40:55 PM Ignore mikaye Report Abuse prices ill go up no matter what.
1Casey Champion Author Albany Posts:6,528 Points:1,791,785 Joined:Jun 2004	Message Posted: Apr 16, 2012 8:40:12 PM Ignore 1Casey Report Abuse $peculation
abcdMA Champion Author Worcester Posts:7,922 Points:1,574,980 Joined:Nov 2008	Message Posted: Apr 16, 2012 8:39:22 PM Ignore abcdMA Report Abuse we need to be energy independent
WinderGuy Champion Author Georgia Posts:2,864 Points:931,630 Joined:Mar 2008	Message Posted: Apr 16, 2012 8:30:40 PM Ignore WinderGuy Report Abuse Ok
bluebird1 Champion Author Toronto Posts:15,730 Points:3,107,150 Joined:May 2004	Message Posted: Apr 16, 2012 8:29:09 PM Ignore bluebird1 Report Abuse There is no break at the pumps folks..not until fall, but wait there's labor day weekend too!!
ShudBWalking Champion Author Kitchener-Waterloo Posts:3,608 Points:419,365 Joined:Oct 2006	Message Posted: Apr 16, 2012 8:26:34 PM Ignore ShudBWalking Report Abuse so when will the consumers get a break in prices at the pump?
Vitobug Champion Author El Paso Posts:1,955 Points:639,935 Joined:May 2011	Message Posted: Apr 16, 2012 8:25:08 PM Ignore Vitobug Report Abuse ok
Road-Runner Champion Author Denver Posts:7,046 Points:1,905,165 Joined:May 2004	Message Posted: Apr 16, 2012 8:23:51 PM Ignore Road-Runner Report Abuse Sounds like a good deal - for both countries.
blazerbob91 Champion Author Milwaukee Posts:6,140 Points:1,882,695 Joined:Aug 2005	Message Posted: Apr 16, 2012 8:15:50 PM Ignore blazerbob91 Report Abuse OK
DeeLA Champion Author Los Angeles Posts:4,813 Points:1,364,355 Joined:Nov 2008	Message Posted: Apr 16, 2012 8:15:34 PM Ignore DeeLA Report Abuse On the surface, this would seem to be a good deal.
pgerassi Champion Author Milwaukee Posts:10,896 Points:2,131,605 Joined:Apr 2007	Message Posted: Apr 16, 2012 8:14:34 PM Ignore pgerassi Report Abuse So?
CorvairHaven Champion Author Cleveland Posts:4,349 Points:1,452,965 Joined:Sep 2008	Message Posted: Apr 16, 2012 8:11:28 PM Ignore CorvairHaven Report Abuse more politics.
mstearno Champion Author Dayton Posts:8,066 Points:1,731,235 Joined:Jan 2008	Message Posted: Apr 16, 2012 8:07:46 PM Ignore mstearno Report Abuse dumb idea
USAv8tor Veteran Author Long Island Posts:348 Points:138,665 Joined:Mar 2012	Message Posted: Apr 16, 2012 8:06:46 PM Ignore USAv8tor Report Abuse Why are U.S. Petroleum Corporations making swap agreements with other Nations? Let them keep what they have and we'll keep what we have. Keep costs down, keep jobs in the U.S.
FuelOilOH Champion Author Cleveland Posts:2,837 Points:1,180,220 Joined:Oct 2007	Message Posted: Apr 16, 2012 8:05:08 PM Ignore FuelOilOH Report Abuse Sounds like a traders dream deal. Promise them what is safely recovered for access to what's in the wild.
Z51Corvette Champion Author Austin Posts:8,485 Points:1,671,170 Joined:Jan 2008	Message Posted: Apr 16, 2012 8:01:55 PM Ignore Z51Corvette Report Abuse More proof that PEAK oil has not been reached!
mrbee Champion Author Little Rock Posts:3,753 Points:2,465,610 Joined:Oct 2005	Message Posted: Apr 16, 2012 8:01:39 PM Ignore mrbee Report Abuse Good deal.
dinomen Champion Author Arkansas Posts:1,882 Points:718,685 Joined:May 2010	Message Posted: Apr 16, 2012 8:01:10 PM Ignore dinomen Report Abuse Ok.
us4usa Champion Author Missouri Posts:5,987 Points:1,112,310 Joined:May 2008	Message Posted: Apr 16, 2012 8:00:03 PM Ignore us4usa Report Abuse Oil will be around for a long time for many people...
WBBNC Veteran Author North Carolina Posts:499 Points:488,640 Joined:Jan 2011	Message Posted: Apr 16, 2012 7:53:29 PM Ignore WBBNC Report Abuse Let's cooperate! PEACE!
stopforgas All-Star Author Mississippi Posts:996 Points:480,955 Joined:Jun 2011	Message Posted: Apr 16, 2012 7:50:58 PM Ignore stopforgas Report Abuse Another win for the Grand Oil Party.
billy44bo Champion Author Mobile Posts:7,202 Points:1,489,895 Joined:Feb 2008	Message Posted: Apr 16, 2012 7:50:57 PM Ignore billy44bo Report Abuse and how do we get screwed in this deal?
CaesarI Sophomore Author Augusta Posts:212 Points:26,640 Joined:Nov 2011	Message Posted: Apr 16, 2012 7:49:51 PM Ignore CaesarI Report Abuse ok
DEG Champion Author Las Vegas Posts:17,620 Points:3,494,705 Joined:Jul 2003	Message Posted: Apr 16, 2012 7:48:54 PM Ignore DEG Report Abuse On the surface this sounds like a potential give away of US resources.
darkknight1 Champion Author Winston-Salem Posts:4,335 Points:895,085 Joined:Nov 2010	Message Posted: Apr 16, 2012 7:47:54 PM Ignore darkknight1 Report Abuse ok
fenster66 Champion Author Pittsburgh Posts:3,345 Points:673,115 Joined:May 2011	Message Posted: Apr 16, 2012 7:46:53 PM Ignore fenster66 Report Abuse good for Exxon....
marinasgrandpa Champion Author Atlanta Posts:1,003 Points:399,715 Joined:Oct 2008	Message Posted: Apr 16, 2012 7:44:54 PM Ignore marinasgrandpa Report Abuse the ONLY time I buy Exxon is when they have the best price------not too often!!!
Suzzoom Champion Author Nevada Posts:2,363 Points:505,165 Joined:Jan 2011	Message Posted: Apr 16, 2012 7:43:51 PM Ignore Suzzoom Report Abuse I read the whole article & it's too complex for my brain. Maybe that's what Exxon is counting on.
mdskier Champion Author Maryland Posts:9,935 Points:1,782,610 Joined:Aug 2005	Message Posted: Apr 16, 2012 7:42:35 PM Ignore mdskier Report Abuse Is this a dodge to weasel out of taxes.
mitchell6597 Champion Author New Hampshire Posts:3,462 Points:728,360 Joined:Apr 2010	Message Posted: Apr 16, 2012 7:42:26 PM Ignore mitchell6597 Report Abuse Hmmmm....
kitty1750 Champion Author Kitchener-Waterloo Posts:2,199 Points:470,675 Joined:Jun 2011	Message Posted: Apr 16, 2012 7:37:13 PM Ignore kitty1750 Report Abuse No comment.
tucker355 Champion Author Manitoba Posts:1,699 Points:440,065 Joined:Feb 2009	Message Posted: Apr 16, 2012 7:31:54 PM Ignore tucker355 Report Abuse Like they need another edge to make...I mean to take our money!!!