ExxonMobil oil rig enters uncharted waters of Russian political storm
A NORMAL long-scheduled journey of an oil drilling rig into Arctic waters is turning into a major political exercise, attracting international scrutiny and creating a dilemma for ExxonMobil.
Exxon, the top U.S. oil major and the world’s most valued oil company, is bringing the rig, called West Alpha, from Norway to the Russian Arctic. It is hoping for a major discovery in the Kara Sea with Russian partner Rosneft.
The journey has begun just as the United States has slapped the toughest sanctions yet on Russia, including on Rosneft, over escalating violence in Ukraine.
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From a broader prospective, the project will indicate the resolve of major oil companies to continue dealing with Russia even as conflict escalates with the West.
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