Rosneft said Tuesday that it has completed the acquisition of ExxonMobil’s stakes in some joint projects set up to develop offshore Arctic, deepwater Black Sea, and West Siberian tight oil reserves, following the US major’s decision to withdraw in response to Western sanctions against Russia. Receive daily email alerts, subscriber notes & personalize your experience. Register Now “During the second quarter of 2018, within the process of ExxonMobil’s withdrawal from several joint projects, the company completed acquisition of interests in joint ventures with ExxonMobil,” Rosneft said in its financial results released Tuesday. Some details of the acquisition have yet to be finalized, including allocation of the purchase price and liabilities assumed. “Allocation of the purchase price to the fair value of the assets acquired and liabilities assumed will be finalized within 12 months of the dates of the respective acquisitions,” Rosneft said. In March Exxon announced plans to […]