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Russia Offers Exxon New Projects as U.S. Sanctions Loom

  • Talks may lead to increased cooperation between two oil giants
  • U.S. could impose additional sanctions on Russia in November
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Photographer: Matthew Busch/Bloomberg
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Russia has begun discussions with Exxon Mobil Corp. on possible new oil and gas projects, potentially creating a dilemma as the U.S. government mulls more sanctions against the country.

The talks could lead to increased cooperation between the U.S. energy giant and state-run Rosneft PJSC, Russian government officials said, asking not to be named discussing confidential information. Several options have been prepared for Exxon, including in natural gas, refining and chemicals, none of which are currently subject to American sanctions, two officials said.