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    Russia's Rosneft signs deal with Norway's Statoil

    MOSCOW (AP) — Russia's state oil company Rosneft and Norway's Statoil signed a deal Saturday to jointly explore Russian offshore deposits in the Barents Sea and Sea of Okhotsk.

    Statoil ASA will take a 33 percent stake in the joint ventures and will finance the initial exploration necessary to determine the commercial value of the four licenses, the two companies said in statements announcing the deal.

    The agreement also offers Rosneft, Russia's largest oil producer, an opportunity to acquire stakes in Statoil projects in the North Sea and in the Norwegian sector of the Barents Sea.

    "By building on both companies' competence and experience, this agreement is a significant step further in the industrial development of the northern areas," Statoil chief executive Helge Lund said in the statement.

    He signed the deal in Moscow with Rosneft president Eduard Khudainatov in the presence of Vladimir Putin, Russia's prime minister and president-elect.

    Khudainatov estimated total investment in the four fields at up to $100 billion, the ITAR-Tass news agency reported.

    Saturday's deal follows similar agreements that Rosneft struck with Italy's Eni and U.S. energy giant ExxonMobil to explore for oil in Russia's Arctic.

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    • Kim and Kanye's Baby Name Is Not That Strange

      It's being reported that rapper Kanye West and his reality star girlfriend Kim Kardashian have named their brand-new baby, born this weekend, Kaidence Donda West. Donda was Kanye's late mother's name, so that makes sense, but, um, Kaidence? What's going on with Kaidence?

    • Man charged with tossing wife off cruise ship

      SANTA ANA, Calif. (AP) — A California grand jury has indicted a Florida man on charges he strangled his ex-wife and tossed her off a cruise ship in Italy.

    • Playmate admits helping boyfriend in US illegally

      SYRACUSE, N.Y. (AP) — A former Playboy Playmate has admitted helping her Canadian boyfriend after he illegally entered the United States in northern New York last summer.

    • Rick Perry Goes to War Against Connecticut

      Rick Perry, the Texas governor and 2012 "oops" presidential candidate, is spending the beginning of this week in Connecticut. Perry, as the governor of Texas, has little on-its-face reason to be in Connecticut. Except, of course, for one: Texas's unemployment rate, which at 6.4 percent in April is significantly lower than the national average, is still not quite ideal. Perry wants to bring jobs to his state. And, as he sees it, some of those jobs could come from Connecticut.

    • GOP Congressman Wants to Ban Abortion to Save Masturbating Fetuses

      In a preview of the many pronouncements to come on the floor of Congress as the House debates a legislative ban on all abortions after 20 weeks, allow us to introduce you to Rep. Michael Burgess (R-Texas), who believes that abortion should be banned earlier than the Supreme Court says it should because, in part, he knows fetuses feel pain. He knows this because he says he's seen male fetuses begin masturbating in the womb around 15 weeks into a pregnancy.

    • Miss Utah's Pageant Answer Is the Worst You've Ever Seen

      The only time normal people seem to care about national beauty pageants is when one of the contestants messes up the question-and-answer round in the worst way possible. Well, it happened again last night at the Miss USA pageant, with Miss Utah giving an answer so bad that it eclipsed all other terrible pageant answers before her. Meet 21-year-old Marissa Powell. She is from Salt Lake City. And this is the full, cringe-worthy sequence you will be seeing a lot of this week:

    • Bieber behind wheel as car hits man in Hollywood

      LOS ANGELES (AP) — Video shows Justin Bieber running into a photographer with his white Ferrari in Hollywood, but police say there was no crime and the injuries aren't life-threatening.

    • Oil climbs above $98 ahead of Fed policy news

      The price of oil rose above $98 Tuesday as traders awaited the latest word on both the Federal Reserve's monetary policy and U.S. oil supplies. Benchmark oil for July delivery rose 67 cents to close at ...

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