Exxon expects Russia to widen its Sakhalin license
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ExxonMobil  CEO Rex Tillerson  told Reuters on Tuesday he expected Russia to live up to  agreements to enlarge the territory of the Sakhalin 1 project  to include new oil discoveries.
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Russia has suspended 12 water use licenses for the Shell-run Sakhalin-2 oil and gas project after uncovering violations of environmental law, the ministry of natural resources said in a statement.
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Russia stepped up the pressure on Royal  Dutch Shell and its Japanese partners on Tuesday over a $20  billion oil and gas development in the Far East, sparking  protests from Tokyo and Brussels.
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Exxon Mobil increased its expected  spending for its Sakhalin oil project in Russia above the  original 2002 estimate of $12.8 billion to reflect inflation  and foreign exchange pressures, a spokesman said on Monday.
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Japan raises concerns over Russia's decision to withdraw support for the Sakhalin 2 energy project.
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Russian officials turned up the pressure on the massive Sakhalin-2 oil and gas project, as what is shaping up to be a bitter international dispute dominated an energy conference in Russia's Far East.
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Russia said Thursday that China Petroleum &amp; Chemical Corp., Asia&#39;s biggest oil refiner, may join Royal Dutch/Shell Group&#39;s Sakhalin-2 project in the Pacific and buy liquefied natural gas from the venture&#39;s offshore fields.
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Russia added Serbiaâs oil monopoly to its recent string of energy acquisitions in a deal that will also allow Moscow to send more natural gas to Europe through its South Stream pipeline.
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Exxon Mobil increased its expected   spending for its Sakhalin oil project in Russia above the   original 2002 estimate of $12.8 billion to reflect inflation   and foreign exchange pressures, a spokesman said on Monday.
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Oil major Royal Dutch Shell is on the brink of a deal to bring Russian gas monopoly Gazprom into the $22 billion Sakhalin-2 project, a spokesman said on Sunday.
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Russia stepped up the pressure on Royal   Dutch Shell and its Japanese partners on Tuesday over a $20   billion oil and gas development in the Far East, sparking   protests from Tokyo and Brussels.
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BP Plc's Russian venture is likely to lose its license for the giant Kovykta gas field on Friday, although Moscow could postpone the tough action until after the G8 Summit and its landmark economic forum.
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HOUSTON -- Oil giant Exxon Mobil Corp. said yesterday it will spend some of its record profits on more than 20 new global projects in the next three years, investments expected to add 1 million oil-equivalent barrels a day to the company's volumes at peak production.
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Russia's state environmental agency has said it had launched a legal challenge to work at Sakhalin-2, a massive oil and gas project led by British group Shell, as efforts continued by state-owned Gazprom to obtain a stake in the project.
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Shell has reached a deal with Russia's Gazprom over the multi-billion dollar Sakhalin-2 oil and gas project, reports say.
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Russia will not halt Shell's Sakhalin gas-and-oil project while a new environmental probe takes place.
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Exxon Mobil Corp  plans to start 25 new global projects in the next three years, adding about 1 million barrels of oil equivalent per day to its base volumes when they reach their peak, the world's largest publicly traded oil company said on Wednesday.