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Rosneft and Exxon also plan to work together to develop oil production technologies in western Siberia. This is the first step toward future ventures in Russia, the companies said. In North America, Rosneft subsidiaries will acquire minority stakes in Exxon investments in oil projects in west Texas and Alberta, Canada, while also receiving the option to buy a minority stake in some of Exxon's oil fields in the Gulf of Mexico. The agreements follow Russia's move to reform its tax system to make oil production more profitable for the industry. Shares of Exxon Mobil Corp. added $1.33 to $84.29 in afternoon trading.
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