- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Exxon's Tillerson and Putin Bros
Posted on 3/27/14 at 9:24 pm
Posted on 3/27/14 at 9:24 pm
Interesting article about Exxon's $500 billion deal with Russia. I just find it incredible that Exxon would take such a chance with the developed world's most corrupt leader. Ruskies in the Gulf of Mexico and West Texas just got real.
LINK
No doubt, sanctions would be a double edged sword.
LINK
quote:
As in any good bromance, they hang out in each others’ neighborhoods. To balance out the geographic breadth of the partnership, Rosneft has joined with Exxon to invest in 20 deepwater exploration blocks in the Gulf of Mexico, as well as onshore projects in Texas and Alberta, Canada. Exxon has also given Rosneft the option to acquire a 25% stake in the Port Thomson Unit, which is estimated to hold a quarter of the natural gas and condensate reserves on Alaska’s North Slope
quote:
Just as Putin is unlikely to give back Crimea, you can forget about a company as growth-hungry as Exxon willingly backing away from its Kremlin connections out of some perceived patriotic American duty. As Tillerson’s predecessor Lee Raymond famously said (quoted in Steve Coll’s book Private Empire: ExxonMobil and American Power): “I’m not a U.S. company and I don’t make decisions based on what’s good for the U.S.”
No doubt, sanctions would be a double edged sword.
quote:
If the Obama administration were to place sanctions on Exxon preventing it from pursuing its Rosneft joint venture, it would be a significant blow to Putin’s long term ambitions of just maintaining, let alone growing, Russia’s oil and gas output. But it would also deal a significant blow to Exxon, which is counting on Russian volumes to help it maintain its own production levels in the decades to come.
Posted on 3/27/14 at 9:31 pm to Big12fan
There's no way for the U.S. and Europe to inflict pain on Russia without inflicting pain on themselves.
Posted on 3/27/14 at 9:34 pm to trackfan
quote:
There's no way for the U.S. and Europe to inflict pain on Russia without inflicting pain on themselves.
I agree, but what irks me most about the Exxon deal is giving them the technology to accomplish drilling in areas which they cannot do on their own.
Posted on 3/27/14 at 9:49 pm to Big12fan
XOM has been in Russia for over 20 years.
LINK
quote:
ExxonMobil has had a continuous business presence in Russia for more than 20 years across upstream, downstream and chemical operations. Our upstream offices are located in Moscow and Yuzhno-Sakhalinsk, and our downstream offices are located in Moscow, St. Petersburg, Yekaterinburg, Novosibirsk and Vladivostok. We have a strong upstream presence in Russia as operator of the Sakhalin-1 project.
LINK
Posted on 3/27/14 at 9:54 pm to GumboPot
quote:
Rosneft and Morgan Stanley have a deal currently in the works that is under scrutiny from the US Committee on Foreign Investment.
When Putin crosses the line, the American business interest will tell him enough is enough and he will either chill the fck out or suffer.
We have more natural gas than we know what to do with and if we want to push the issue, we can start some serious exporting of LNG in a year or so to Europe. This kind of stuff can bring the damn near 3rd world Russia to it's knees.
Posted on 3/27/14 at 9:56 pm to OldTigahFot
quote:
XOM has been in Russia for over 20 years.
Yes, but the deal Putin & Exxon made in 2012 is unprecedented in terms of the size of investment. Disruption via sanctions would now have a significant impact on Exxon. Prior to this deal, sanctions would be a blip on the screen.
Posted on 3/27/14 at 9:56 pm to notiger1997
If the US is truly interested in continuing to see over the demise of Putin, then they will have no choice but to put a wedge between Exxon and the Russian oligarch.
That's part of the risk when dealing with a country ruled by thieves and psychopaths.
That's part of the risk when dealing with a country ruled by thieves and psychopaths.
Posted on 3/27/14 at 10:23 pm to Asgard Device
Exxon doesn't seem to be of a mind to back off at this point :
They've even discussed investment in Ukraine
I think they mean to run up Putin's credit card pretty quick.
They've even discussed investment in Ukraine
I think they mean to run up Putin's credit card pretty quick.
Popular
Back to top
Follow TigerDroppings for LSU Football News