Support The Moscow Times!

Exxon Wants Bigger Budget

The ExxonMobil-led Sakhalin-1 offshore oil project in the Far East is looking to double its budget to $100 billion, Vedomosti reported Thursday, citing unidentified government officials.

The paper said Exxon Neftegas Limited asked for its capital expenditure for the project to rise to $47.9 billion and operational expenses to $52.2 billion in a document being reviewed by the government. 

(Reuters)


Read more