Pilgrim Petroleum Corp. (PGPM)

[JoeBlack]

Exxon says govts should open access to oil reserves

MADRID, July 1 (Reuters) - A tight oil market could be loosened if resource holders removed restrictions to investment, the Chief Executive of Exxon Mobil (XOM.N: Quote, Profile, Research) said on Tuesday, adding that in the United States the public mood was moving against environmental bars on drilling.

Rex Tillerson said many governments who said they were not happy with the current oil supply-demand situation could improve it by giving access to international oil companies to exploit their oil fields.

Tillerson added that he understood Alaskans were disappointed when the U.S. Supreme Court overturned a $2.5 billion punitive award related to the Exxon Valdez oil spill but hoped the decision would not mar the company's relationship with the state. (Reporting by Tom Bergin; Editing by Erica Billingham)