ExxonMobil says loses $1 bln from leaving JVs with Rosneft

MOSCOW, Feb 26 (PRIME) -- U.S. ExxonMobil estimates losses from quitting joint ventures (JV) with Russian state-owned oil major Rosneft over the U.S. sanctions against the country at U.S. $1 billion as of late 2014, as seen by PRIME in the company’s report on Thursday.

The maximum possible losses from these joint ventures stands at $1 billion as of December 31, 2014, the company said.

The U.S. government banned supplies of equipment for deep-sea exploration and production of oil at the Arctic shelf and shale fields in Russia and providing services to such projects to gas giant Gazprom, its oil branch Gazprom Neft and oil companies Rosneft, Lukoil and Surgutneftegas. ExxonMobil had to suspend nine out of 10 projects with Rosneft.

End