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Rosneft, Exxon Combine in Africa Even Amid Russia Sanctions

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OAO Rosneft and Exxon Mobil Corp. bid for licenses in Mozambique, forging ahead with a partnership strategy even as U.S.-Russia relations remain tense.

Russia’s largest oil producer and Exxon submitted joint bids in Mozambique’s fifth licensing round to explore the Angoche Basin and Zambezi Delta, according to a statement on Rosneft’s website confirmed by Exxon.