Rosneft targets Sakhalin III: the state-owned firm appears to be keeping the door open for its erstwhile western partners.

Rosneft will bid for Sakhalin III blocks if they are re-tendered, claiming they can be developed under Russia's regular tax regime.

And sources at the firm suggest it may join forces with its former Sakhalin III partners, ExxonMobil and ChevronTexaco, in a new bidding round, although the two US companies decline to comment. Rosneft has every reason to court the western firms, given that existing debts would make it difficult for the state-owned company to raise money to develop Sakhalin III alone.

Acting energy minister Igor Yusufov last week claimed that ExxonMobil should have "certain priorities" in bidding for Sakhalin III. But following the Russian …