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The New York Times: Russia: Shell Explores Work With Rosneft

By ANDREW E. KRAMER
Published: July 10, 2007

Royal Dutch Shell and Rosneft, the Russian state oil company, agreed to explore possibilities to work together to develop oil fields and market gasoline and other petroleum products worldwide.

The deal was presented as a framework to discuss future deals. While short on specifics, it suggested Shell was still seeking opportunities in Russia despite being forced last fall to sell a controlling stake in its Sakhalin II development to Gazprom, another Russian state company, at a low price.

Jeroen van der Veer, Shell’s chief executive, said in a statement, “We are committed to developing our business in cooperation with Russian companies across the entire range of the energy business.”

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