EXXON & ROSNEFT: STOP DRILLING Exxon Mobil Corp. and OAO Rosneft halted drilling on an offshore oil well intended as the first step in unlocking billions of barrels of crude in Russias remote Arctic, according to people familiar with the project. Work stopped just a few days after the U.S. and European Union barred companies from helping Russia exploit Arctic, deep-water or shale-oil fields, said three people with knowledge of the rigs operations who asked not to be named since they werent authorized to speak about the project. The U.S. sanctions, meant to punish Russia for escalating tensions in Ukraine, gave American companies until Sept. 26 to stop all restricted drilling and testing services.
Posted on: Fri, 19 Sep 2014 17:37:20 +0000
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