Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Russian Energy Deals

MOSCOW () -- A Rosneft spokesman said Monday that new domestic companies, not Western majors, would be given the upper hand in future billion-dollar energy deals in Russia.

Vladimir Tumarkin, chief spokesman for the state oil holding company, said Amoco Corp, Exxon and Texaco of the United States, Total SA of France and Norsk Hydro ASA of Norway -- all bidders in a tender to develop reserves in Timan-Pechora -- would be asked to form a consortium and to give at least a 50-percent stake to Russian companies.