Richardson's good month

02/22/1999
From the perspective of the U.S. oil and gas industry, it has been a good month for Energy Sec. Bill Richardson. It began with meetings in Saudi Arabia, after which Richardson described the types of projects the Saudis might open to participation by U.S. companies. The event was historic. However slowly, Saudi Arabia is reopening its oil and gas upstream to foreign investment. The Saudis will welcome international capital in what Richardson and his counterpart, Saudi Oil Minister A* Al-Naimi, described as "infrastructure" projects involving natural gas and in limited, mostly downstream, oil ventures. Exploration and production projects remain off-limits. Explaining restri...
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