[oil and gas] russia tells exxon mobil nothing doing

Exxon Mobil, by their own lights, have a right to expect a small sweetheart payback. After all, they have committed substantially, both upstream and in R&D and have shown themselves indispensable in terms of know-how. Nothing doing. With the discovery of new reserves near or at Sakhalin-1, Russia’s Natural Resources Ministry has told Exxon Mobil it will not automatically enlarge their license territory. It will go to auction. More here.