'Drill, baby, drill' - US oil cos rise, Trump hails 'liquid gold'

Vital Energy

21/01/2025 11:50

** Shares of oil companies inch up in pre-market trade
    ** US President Donald Trump lays out sweeping plan to
maximize oil and gas production, including declaring a national
energy emergency 
    ** National energy emergency will provide him with the
authority to reduce environmental restrictions on energy
infrastructure and projects and ease permitting for new
transmission and pipeline infrastructure
    ** "The inflation crisis was caused by massive overspending
and escalating energy prices, and that is why today I will also
declare a national energy emergency. We will drill baby, drill"
- President Trump
    ** Oil majors Exxon Mobil  XOM.N  and Chevron Corp  CVX.N 
edge up 0.3% and 0.2%, respectively
    ** Top oilfield services company SLB  SLB.N  rises 1.5%,
while Baker Hughes  BKR.O  and Halliburton  HAL.N  climb 1.7%
and 2%, respectively
    ** Oil and gas producers APA  APA.O  and Vital Energy
 VTLE.N  up 0.6% and 0.9%, respectively
    ** "We will be a rich nation again, and it is that liquid
gold under our feet that will help to do it," said Trump in his
in his inaugural speech

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94
 ;))