Thursday, 9 January 2020

Rosneft and Exxon Deals for 2020

Rosneft is one of the 3 largest companies in Russia: Gazprom (Газпром), Lukoil (Лукойл), and Rosneft (Роснефть). All three of these companies are oil and gas companies.

PJSC Rosneft Oil Company is a Russian integrated energy company headquartered in the Russian capital of Moscow. It is specializing in exploration, extraction, production, refinement, transport, and sale of petroleum, natural gas, and petroleum products.

Rosneft is certainly among the largest natural gas producers in Russia, with a total gas production of 12.3 billion cubic metres (1.23×1010 cubic metres) in 2010. Rosneft is engaged in exploration and production across all key oil and gas regions of Russia: Western Siberia, Southern and Central Russia, Timan-Pechora, Eastern Siberia, the Far East, and the shelf of Russia's Arctic Ocean. Interestingly, Rosneft is also second-to-none in terms of total proved liquid hydrocarbon reserves.

Russia is certainly a mixed economy with some state ownership in some sectors. The large country's massive geography is an important determinant of its profitable economic activity. Russia has about 30% of the fantastic natural resources in the world. Russia's rich natural resources are estimated to be worth around $75 trillion by the World Bank. The country has abundant deposits of precious metals, natural gas, and oil.

Exxon Mobil is an American multinational oil and gas corporation headquartered in Irving, Texas. It was formed on November 30, 1999 by the merger of Exxon and Mobil.

Exxon will not have to pay a $3-million fine the U.S. Treasury Department imposed on the company for doing business with Rosneft during a growing load of U.S. sanctions against Russia. A federal judge this week ruled against the fine.

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