Global companies eye more US investment as Trump touts energy dominance

By Georgina McCartney and Arathy Somasekhar

HOUSTON (Reuters) - Market upheaval from U.S. President Donald Trump's protectionist commercialized policies has not dampened overseas concern involvement successful the U.S. vigor industry, executives said this week, arsenic they lauded his committedness to chopped regulations and enactment fossil fuels.

Trump has made vigor dominance a pillar of his administration, declaring a nationalist vigor exigency connected his archetypal time of bureau and pulling the U.S. from the Paris clime agreement. He has urged vigor companies to boost fossil substance accumulation and promised to bring down prices for consumers.

The U.S. lipid and state industry, which has focused connected returning superior to shareholders and reined successful exploration and investment, has broadly welcomed Trump's pro-energy stance, adjacent though little prices typically wounded institution bottommost lines. The overseas companies did not yet perpetrate a dollar magnitude to caller concern successful the United States.

Oil prices deed a three-year debased successful aboriginal March. On Monday planetary Brent crude futures settled nether $70 a tube arsenic investors disquieted a commercialized warfare would dilatory economical growth.

Foreign vigor companies spot accidental successful America's immense earthy resources and Trump's pro-energy policies. Their involvement follows years of slower U.S. spending arsenic investors pushed companies to absorption connected returns alternatively than explosive growth.

United Arab Emirates vigor institution ADNOC connected Tuesday said it intended to marque important investments successful the coming months successful the U.S. done its fully-owned planetary concern limb XRG, which has astir $80 cardinal successful assets and is considering options for an archetypal nationalist offering.

"Investing successful the United States done XRG is not a priority; it's an implicit imperative," ADNOC CEO Sultan Al Jaber said connected Tuesday.

He said those investments would see the earthy state proviso chain. The UAE is simply a subordinate of the Organization of the Petroleum Exporting Countries.

Australian lipid and state shaper Santos besides said it planned to summation its concern successful the U.S., citing the Trump administration's pro-energy policies. That could see further superior toward its Pikka lipid task successful Alaska.

Last year, Australian institution Woodside Energy acquired U.S. liquefied earthy state institution Tellurian and plans to marque a last concern determination connected an LNG export task successful Louisiana this year. The institution besides precocious acquired an ammonia works successful Beaumont, Texas.

Santos connected Sunday evening attended a meal with U.S. Energy Secretary Chris Wright and executives from different large lipid and state firms. Wright promised to velocity up permitting and enactment the industry.