shellvanbeurden

Shell puts revamped shale arm at heart of future growth: Reuters

Royal Dutch Shell is putting unconventional energy at the heart of its long-term growth plans, and believes lessons from the revamp can be applied across the company, according to an exclusive report by Reuters news agency. Greg Guidry, head of the Anglo-Dutch group’s unconventionals business, told Reuters a drive to slash costs and streamline decision-making…

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CNPC, BP partner to explore, extract shale gas in China

Oil major BP PLC and China National Petroleum Corporation have signed a production-sharing contract for shale gas exploration, development and production in the Neijiang-Dazu block in the Sichuan Basin, China.

The two companies agreed to exploit resources in the Neijiang-dazu block in southwestChina’s Sichuan Basin, an area of approximately 1,500 square kilometres.

BP Group Chief Executive Bob Dudley said “We are looking forward to working together withCNPC on technology, operational and subsurface techniques in unconventional resources.”

China continues to be an important part of BP’s portfolio, he said.

This PSC is the first deal to come out of a BP and CNPC cooperation agreement signed last October. It is also BP’s first shale gas PSC in China.

BP’s 2016 Energy Outlook predicts that by 2035 shale gas will account for a quarter of the total  gas produced globally and China will be the world’s largest contributor.