Arctic Riches for Exxon, Texas Tea for Russia's Rosneft

The links below together tell a story that has reached a milestone this week as President Elect Vladimir Putin created a new deputy energy ministry and named Pavel Fedorov to the position.  Fedorov has been with Russian oil giant Rosneft and was point man for the massive deal announced in 2011 whereby Exxon is to be contracted to work with Rosneft on Arctic (and other, such as western Siberian) oil exploration and extraction, etc, while  Rosneft gets to enter the U.S. energy exploration business in Texas and the Gulf of Mexico.  When it comes to business, the reset policy is paying off for at least one U.S. energy giant.

Rosneft challenges Exxon as #1 producer (2011)

Exxon-Rosneft deal (Arctic & US resources)

Possible area where Rosneft can expand its operations

Putin chooses Rosneft leader to be energy minister (2012)