ExxonMobil seeks arbitration against Rosneft

Multinational

MOSCOW, August 6, 2018 – ExxonMobil will seek international arbitration after Rosneft filed a USD 1.4-billion lawsuit against a project operated by the super-major, international media reported on Monday.

ExxonMobil subsidiary Exxon Neftegaz is one of five entities charged last month with “unjust enrichment and interest gained by using other people’s money.” Rosneft owns 20% of shares in the Sakhalin oil and gas project, alongside partners ExxonMobil (30%), SODECO (30%) and ONGC (20%).

The news came as 18 people including Rosneft oil workers were killed after a helicopter crash in Siberia, according to separate news reports issued on Monday.

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