Exxon Mobil extends its business

Exxon Mobil is in negotiations with China

In brief: In already existing concern Exxon Mobil possesses 25% stocks together with Saudi Aramco, Sinorec and Chinese authorities.

Exxon Mobil has negotiations with state oil companies of China on organizing joint venture. The cooperation is to cover fields of China as well as those out of the country. According to the vice-president of Exxon Mobil Mark Albers, the company tends to extend its production possibilities in oil sphere in China.

In already existing concern Exxon Mobil possesses 25% stocks together with Saudi Aramco, Sinorec and Chinese authorities. Now natural gas prices in China has become higher which was positively estimated by the US company. Thus, Exxon Mobil tries to set market prices to the resources. So, the negotiations with Chinese authorities may open new opportunities in oil and gas market.

Maria Velikanova
2010-06-07 09:17, Economics.

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