Oil field
Media playback is unsupported on your device
Video

Exxon Mobil clinches Arctic oil deal with Rosneft

US oil major Exxon Mobil has clinched an Arctic oil exploration deal with Russian state-owned oil firm Rosneft.

The venture seemingly extinguishes any remaining chance of BP reviving its own deal, which lapsed in May.

The agreement was signed on Tuesday in the presence of Prime Minister Vladimir Putin.

Caroline Hepker reports.

Go to next video: BP's battle with the oligarchs