Poll: US, Foreign Oil Companies to Prosper in Trump's USA

Both US and foreign oil companies will thrive in Trump’s USA, according to a Rigzone poll on social media platform Twitter.

 

 

Out of 254 respondents, 41 percent said that all oil companies would prosper in the US following Trump’s election win. Thirty-six percent believed that just US companies would thrive under the new president and 4 percent of voters thought just foreign companies would prosper. A significant section of respondents, 19 percent, stated that no oil companies would thrive under Trump.

Following Trump’s victory in the U.S. Presidential Election, European press reaction was broadly positive when it came to prospects for European oil and gas firms that operate in the states.

London's Evening Standard newspaper said that oil companies will be riding high as a result of the news. It suggested that UK energy company BP plc could potentially strengthen ties in the US (the oil major refused to comment directly) and pointed out that service companies such as Wood Group and Weir will be helped by a Trump presidency. 

Spanish news service vozpopuli.com also saw the development optimistically, stating that Trump’s victory could, in principle, benefit Spain's Repsol S.A., which has operations in Alaska.

There were some contrary views too however, with French business website capital.fr suggesting that foreign companies operating in the U.S. might lose out, and that those that fly Le Tricolore – such as oil major Total S.A. and oilfield engineer Technip – will be "holding their breath" to see what happens next. 

A graduate in journalism from Cardiff University, Andreas has eight years of experience as a business journalist. Email Andreas at andreas.exarheas@rigzone.com

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