Saudi Arabia Ends Talks on Gas Project
From Reuters
Saudi Arabia told Exxon Mobil Corp. that it had closed talks on a $15-billion gas project, the biggest Saudi energy opening in nearly 30 years.
Saudi Oil Minister Ali Ibrahim Naimi sent notice in a letter to Exxon and fellow consortium members ending negotiations to develop gas in the South Ghawar field.
Western executives believe Naimi wants to split up the projects, keeping gas field development in the hands of state-owned Saudi Aramco.
Exxon said it was evaluating the letter.
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