Exxon Deal Gets Russia U.S. Fracking Expertise - KAUZ-TV: Newschannel 6 Now | Wichita Falls, TX

Exxon Deal Gets Russia U.S. Fracking Expertise

NEW YORK (AP) - An unprecedented deal that gives Russia's state-controlled oil company part-ownership of U.S. oil fields is unlikely to be scuttled by political or national security concerns.
The reason is simple: Russia doesn't need the oil.

In the deal announced Tuesday, Irving, Texas-based Exxon Mobil would spend $3.2 billion to help the Russian company Rosneft explore offshore oil fields in the Russian Arctic and elsewhere. In return, Rosneft would have the option to acquire parts of oil projects in Texas and the Gulf of Mexico, where Rosneft can learn drilling techniques that Exxon has perfected to tap hard-to-reach oil.

It would be the first time Russia would own parts of U.S. Oil fields, including fields developed using hydraulic fracturing or fracking.
Experts say regulators and lawmakers will likely scrutinize the deal, but not block it.

  • News HeadlinesNewsMore>>

  • 5 terrorists killed to stop attempted second attack near Barcelona, police say

    5 terrorists killed to stop attempted second attack near Barcelona, police say

    Thursday, August 17 2017 11:45 AM EDT2017-08-17 15:45:43 GMT
    Thursday, August 17 2017 10:52 PM EDT2017-08-18 02:52:51 GMT
    According to El Pais in Spain, authorities are treating the incident as a terrorist attack. (Source: AP Photo/Oriol Duran)According to El Pais in Spain, authorities are treating the incident as a terrorist attack. (Source: AP Photo/Oriol Duran)

    A second attack near Barcelona has been foiled, police said early Friday morning.  A terrorist attack in Barcelona on Thursday took the lives of at least 13 and left 100 injured.

    A second attack near Barcelona has been foiled, police said early Friday morning.  A terrorist attack in Barcelona on Thursday took the lives of at least 13 and left 100 injured.

  • Law enforcement preparing for HHH

    Law enforcement preparing for HHH

    Thursday, August 17 2017 10:27 PM EDT2017-08-18 02:27:12 GMT
    Law enforcement is preparing to make race day a safe day for everyoneLaw enforcement is preparing to make race day a safe day for everyone

    We are less than ten days away from the Hotter’N Hell Hundred and riders are not the only one preparing for race day. Law enforcement is preparing to make race day a safe day for everyone. Safety has always been a top concern for everyone involved with the Hotter'N Hell Hundred and officers across Texoma start planning months in advance.

    We are less than ten days away from the Hotter’N Hell Hundred and riders are not the only one preparing for race day. Law enforcement is preparing to make race day a safe day for everyone. Safety has always been a top concern for everyone involved with the Hotter'N Hell Hundred and officers across Texoma start planning months in advance.

  • Local barber and pastor team up to give students a free back-to-school haircut

    Local barber and pastor team up to give students a free back-to-school haircut

    Thursday, August 17 2017 8:14 PM EDT2017-08-18 00:14:48 GMT
    Local barber and pastor team up to give students a free back-to-school haircutLocal barber and pastor team up to give students a free back-to-school haircut

    Pre-K students to high school seniors were given the chance to get their hair cut for free in Vernon.

    Pre-K students to high school seniors were given the chance to get their hair cut for free in Vernon.

Powered by Frankly