Exxon affirms plans to work with Rosneft, but will comply with sanctions
MOSCOW. May 5 (Interfax) - ExxonMobil affirmed its near-term plans to work with Rosneft , whose president Igor Sechin has been hit by U.S. sanctions, The Wall Street Journal reported, noting that the Russian state oil major itself has not been subject to sanctions.
"All of the activities that we had originally planned for this year are under way," David Rosenthal, Exxon's vice president of investor relations, told the paper. The WSJ quoted him as saying that Exxon would comply with all sanctions.
"Exxon faces little risk in the short-term," the paper said. "Russia accounted for about 1% of the company's output last year, and Exxon has yet to invest the years and billions of dollars it would take to unearth the Arctic's energy riches," it said.
