Saudi Aramco still investing billions in shale projects, aided by US innovation

American shale oil production is important for the world’s long-term energy future and Saudi Aramco has marked an additional $7 billion (SR26.25 billion) for its own shale projects, said its President and CEO Khalid Al-Falih. Aramco has already invested $3 billion (SR11.25 billion) in developing its unconventional gas resources and has earmarked an additional $7…


Argentina’s YPF, China’s Sinopec to partner in oil & gas projects

Argentina’s YPF SA and China’s Sinopec have signed a memorandum of understanding aimed at partnering to develop oil-and-gas projects in the South American country, according to a report in the WSJ. A YPF official confirmed that Miguel Galuccio, the company’s CEO, had signed the MOU in Beijing with Sinopec Chairman Fu Chengyu . Sinopec, which…


South Africa Govt expects Falcon, Bundu to submit new shale plans end Feb

South Africa’s oil-industry regulator expects Falcon Oil & Gas Ltd. and Bundu Oil & Gas Exploration Pty Ltd. to submit updated applications next month for licenses to explore for shale gas in the semi-desert Karoo region. “We are expecting to receive revised” environmental-management programs from Falcon and Bundu at the end of February, the Cape…


Local council officials recommend blocking Cuadrilla’s UK shale gas plans

The start of shale gas production in Britain may be delayed after local government officials recommended that two fracking applications from Cuadrilla Resources be rejected in a vote next week. Cuadrilla was planning to start shale fracking work at two sites in northwest England this year, but if Councillors act upon the recommendation not to…


Uncertainty over shale laws hinders German gas output: Wintershall

A 6% decline in Germany’s natural gas production last year is due partly to legal uncertainty over fracking technology, leading producer Wintershall said, pinning its hopes on policy progress this year. “The shale gas discussion continues to block conventional gas production in Germany,” Wintershall’s head of German operations, Andreas Scheck, told reporters in Berlin. The…