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International Oil, Gold Producers Met Russian Turndown

The decision of Russia's government to bar foreign firms from participating in natural resource tenders...

International Oil, Gold Producers Met Russian Turndown

The decision of Russia's government to bar foreign firms from participating in natural resource tenders in 2005 got some reaction form international oil and gas companies.

US oil giant ExxonMobil said it did not plan to take part in a new tender on a project for which it had previously signed a preliminary agreement.

The US Federal Natural Resources Agency said "the government is interested in letting Russian companies develop strategic resources".

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