ENERGY

Exxon, Russia Reach Oil Deal: The largest U.S. oil company said it covers investment terms on a $15-billion project to develop giant oil and natural gas fields off Sakhalin Island. Terms were not disclosed. The move could give Russia’s lawmakers an incentive to speed the passage of a law that would ease other Western oil companies’ negotiations on similar fields. Irving, Tex.-based Exxon Corp. is ready to begin drilling to appraise the fields this year if the law is adopted within the next month, a spokesman for the company said. The venture is one of a few huge projects being closely watched by other companies seeking to invest in Russia.