ExxonMobil (XOM.N) is to make a new investment in Russia for the first time in over a decade as Moscow seeks to thaw its frosty investor climate and keep its oil flowing. Russian state oil company Rosneft (ROSN.MM) will develop over a billion tonnes of Black Sea oil using a $1 billion investment by U.S.-based ExxonMobil (XOM.N), the biggest privately-controlled oil company in the world whose relationship with the world's top oil producing country has been poor in the 21st century. The deal was announced on Thursday in Davos and came just days after Rosneft unveiled an Arctic tie-up and share swap with Britain's BP (BP.L).
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