Saudi Arabia Ends Talks on Gas Project
- Share via
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.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
