The recent attack on key oil infrastructure in Saudi Arabia demonstrated the muscle of North American oil and natural gas production, but it again tested the notion of energy independence and enduring exposure to global energy markets.
Articles from Saudi Arabia
How attacks on key oil facilities over the weekend in Saudia Arabia impact the U.S. energy sector will be proven in the coming weeks and depend heavily on how long the supply outage lasts, experts said on Monday.
Saudi-owned, Houston-based Motiva Enterprises over the weekend inked two agreements that represent billions in potential investments to take advantage of growing U.S. natural gas and oil feedstocks.
Secretary of Energy Rick Perry in the last few days was making a pitch to export natural gas to the Middle East, opening up U.S. markets, while Russia is prowling for more customers in Asia and elsewhere with the startup of a massive project in the coldest part of the world.
Following a two-year oil price war that sharply disrupted global output and bankrupted dozens of North American operators, Saudi Arabia’s energy minister warned Tuesday that the decision by the Organization of the Petroleum Exporting Countries to temporarily reduce output doesn’t mean a free ride for anybody.