Saudi Issues Deadline for Kingdom's Gas, Petrochemical Investments
August 2, 2000 - 0:0
RIYADH, Saudi Arabia Saudi Arabia has set an August deadline for proposals from international oil companies intending to invest in the kingdom's lucrative gas and petrochemical sector, a Saudi oil official said Monday.
The Aug. 26 deadline is for 12 international oil companies Saudi Arabia has been talking to since April 15, the official said on condition of anonymity.
The companies include the Royal Dutch/Shell group, Phillips Petroleum Co., Chevron Corp., Exxon Mobil Corp., Texaco, Conoco, Enron, Occidental Petroleum Corp., BP Amoco, ENI and Marathon.
Saudi Arabia is the world's top oil producer and exporter.
The Saudi oil company Aramco will participate in the execution of the projects, which will be wholly financed by the foreign companies themselves.
Last month, Saudi Arabia said that Western oil companies have committed to invest $100 billion over the next 20 years in Saudi Arabia's oil and gas sectors.
(AP)
The Aug. 26 deadline is for 12 international oil companies Saudi Arabia has been talking to since April 15, the official said on condition of anonymity.
The companies include the Royal Dutch/Shell group, Phillips Petroleum Co., Chevron Corp., Exxon Mobil Corp., Texaco, Conoco, Enron, Occidental Petroleum Corp., BP Amoco, ENI and Marathon.
Saudi Arabia is the world's top oil producer and exporter.
The Saudi oil company Aramco will participate in the execution of the projects, which will be wholly financed by the foreign companies themselves.
Last month, Saudi Arabia said that Western oil companies have committed to invest $100 billion over the next 20 years in Saudi Arabia's oil and gas sectors.
(AP)