Commodities, Emerging Markets, Energy

Russia’s Rosneft To Continue Arctic Drilling Despite Departure Of Exxon, CEO Says

Russia Exxon ArcticRosneft, the largest oil producer in Russia, says that they will continue to drill for oil in the Arctic despite their partner and major provider of funding, ExxonMobil, departing due to sanctions, company CEO Igor Sechin said on Friday, according to Reuters.

“We will continue drilling in any case, on our own, always and everywhere. If partners can take part – that’s good, if they can’t – we will carry on alone,” Sechin said to reporters.

Following U.S. sanctions over Moscow’s involvement in the Ukraine crisis, ExxonMobil suspended their cooperation with Rosneft in the Arctic.

Source: Reuters

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