Exxon Mobil Corp (XOM.N) and Rosneft (ROSN.MM) signed an agreement to extract oil and gas from the Russian Arctic, in the most significant U.S.-Russian corporate deal since U.S. President Barack Obama began a push to improve ties. The pact, which includes an option for Rosneft to invest in Gulf of Mexico and Texan properties, ended any hope of Britain's BP (BP.L) reviving its deal with state-owned Rosneft to develop the same Arctic territory. That deal was blocked in May by the billionaire partners in another BP Russian venture. The pact gives Exxon, the biggest U.S. oil company, access to substantial reserves in Russia, the world's top oil producer. For Rosneft, it's about bringing in one of the few companies capable of drilling in the harsh, deep waters of the Arctic. Russia has shown greater willingness in the past year to secure foreign partners, even if some deals later fell apart. The Exxon announcement comes only months after the demise of a Rosneft deal with Chevron Corp (CVX.N) for a $1 billion investment in an estimated $32 billion Black Sea project.
Exxon Mobil Corporation (Exxon Mobil) is a manufacturer and marketer of commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics and a range of specialty products. Shares of XOM fell by 0.28% or $-0.21/share to $73.91. In the past year, the shares have traded as low as $58.50 and as high as $88.23. On average, 24437200 shares of XOM exchange hands on a given day and today's volume is recorded at 22440396.
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in petroleum operations, chemicals operations, mining operations, power generation and energy services. Shares of CVX fell by 0.34% or $-0.34/share to $98.40. In the past year, the shares have traded as low as $73.23 and as high as $109.94. On average, 9680080 shares of CVX exchange hands on a given day and today's volume is recorded at 9202440.
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