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News // Oil and gas worldwide

Heads of Oil Majors Go to Saudi This Weekend

16 February 2001 , 13:38474
The heads of oil giants BP, Royal Dutch/Shell, TotalFinaElf and Exxon Mobil will meet senior Saudi ministers this weekend in Riyadh to discuss investment plans in the kingdom's multibillion gas sector, industry sources said on Thursday.

"They are coming to finality to compare their positions. Both parties are studying the investment possibilities in the kingdom," a source said.

The source said the invitation to those firms did not mean they were in a better position to win deals in the first opening of Saudi Arabia's upstream gas sector since Riyadh nationalized energy exploration and production in the 1970s.

latimes.com

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