Imperial Oil, Exxon, BP Form Venture for Beaufort Sea
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Imperial Oil Ltd., Exxon Mobil Corp. and BP Plc formed a joint venture to explore for oil and natural gas in Canada’s Beaufort Sea.
Imperial and Exxon will each hold a 25 percent stake in the venture, and BP will own 50 percent, Imperial spokesman Pius Rolheiser said by phone from Calgary today.