Saudi Arabia sets Nov 1 deadline on gas projects

Saudi Arabia has given foreign oil firms such as Royal Dutch/Shell Group and ExxonMobil Corp until Nov 1 to respond "positively" to a final offer made by Riyadh over three large gas projects, or risk losing the deal, Asharq Al-Awsat daily reported citing Saudi sources.

"In case the companies refuse the offer, talks would be considered as over and preliminary agreements and commitments would become null and void," the paper cited a source on the Saudi negotiating team as saying.