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Article: Exxon Mobil to Lead Natural Gas Project in Saudi Arabia.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- June 4, 2001
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Dianne Solis, The Dallas Morning News Knight Ridder/Tribune Business News
Jun. 4--Nearly three years ago, Saudi Arabia's Crown Prince Abdullah bin Abdul-Aziz invited a small group of oilmen to a mysterious tea at the ambassador's residence in McLean, Va. Now Exxon Mobil Corp., whose executives attended the Saudi event, are reaping the coveted rewards.
On Sunday, Irving-based Exxon Mobil said Saudi Arabia had selected it as the project leader for the second of three core natural gas ventures, with a combined value of $25 billion. The moves mark the first major foreign investment in the Saudi Arabian energy sector since the industry was nationalized ...