Exxon urges caution on new deepwater rules after spill

BEIJING, June 7 (BestGrowthStock) – Exxon Mobil (XOM.N: ) hopes that
host governments will “look and wait” to assess the root cause of
the BP (BP.L: ) oil spill before taking action on deepwater
drillings, key to supplying global energy demand.

Mark Albers, Exxon Mobil’s senior vice president, said the
impact of the moratorium on the Gulf of Mexico where the spill
took place, would be much longer than the six-month drilling ban
Washington slapped, as it takes time to understand the effect of
possible new regulations and bring the rigs back to work.

“It’s important that in the next five years, deepwater will
contribute 10 million barrels per day of oil (equivalent). That’s
equivalent to what Saudi Arabia is producing,” Albers told
Reuters in an interview.

“It’s a very important element of meeting the world’s energy
demand.”

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(Reporting by Chen Aizhu and Shao Xiaoyi; Editing by Jacqueline
Wong)

Exxon urges caution on new deepwater rules after spill