U.S., RUSSIAN COMPANIES FAIL TO CREATE SAKHALIN OIL CONSORTIUM.

Formation of an oil development consortium between the American companies Exxon, Mobil Oil, Texaco, and Russia’s Sakhalinmorneftegaz remains up in the air following a recent round of negotiations, according to a Russian delegation member. The consortium is intended to develop oil fields on Sakhalin’s shelf as part of the Sakhalin-3 project. The next round of negotiations is scheduled for late January. (5)

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