ExxonMobil And Rosneft to Explore Energy Reserves in the Arctic, Black Sea

Reuters reported that ExxonMobil (NYSE:XOM) and Rosneft (LSE:ROSN) plans to invest more than $500 billion to explore energy reserves in the Arctic and Black Sea.

As quoted in the market news:

The deal, between the world’s largest listed oil firm and the world’s top oil producing nation, was the product of nearly a year of talks and came about despite a history of mutual distrust between Washington and Moscow dating back to the Cold War and recent difficulties for other Western firms in Russia.

Click here to read the full Reuters report.