The results come after OAO Gazprom Neft posted a 31 percent decline in profit on Monday as oil prices plunged and a weaker ruble led to foreign-exchange losses, while OAO Novatek last week said earnings dropped 66 percent.
Exxon Mobil Corp. extended its partnership with Russia’s state-controlled oil company even as U.S. and European nations threaten additional sanctions to punish Vladimir Putin’s regime for its actions in Ukraine.
Losing money on possible economic sanctions in Russia would amount to a little more than a rounding error for Exxon Mobil, the U.S. energy company with the biggest stake in a country under international pressure to release its grip on Ukraine.
As Barack Obama and Vladimir Putin argue over human rights in Russia and the fate of fugitive U.S. intelligence analyst Edward Snowden, the countries’ biggest oil companies are preparing to drill for giant discoveries together in the Arctic Ocean.
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