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Russia’s Lukoil seeks deal to search for unconventional gas in Saudi Arabia

Russia’s Lukoil said it is negotiating Saudi Arabia to explore for unconventional gas deposits in the Kingdom’s “Empty Quarter” region, also known as Rub Al-Khali. Saudi Arabia has kept its vast oil reserves off-limits to foreigners, but needs natural gas to help cover domestic power demand and conserve oil for export. It invited investors a…

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Canada’s New Brunswick Energy Institute in 2 year $0.5m study of shale gas effect on groundwater

The New Brunswick Energy Institute will spend more than $500,000 on a groundwater study to assess the effects of shale gas development on domestic well water. David Besner, Interim Chair of the New Brunswick Energy Institute, said it’s clear people have concerns about their groundwater supply as it relates to resource development. Besner said the…

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South Africa’s draft new mining, oil & gas laws could threaten investment

South Africa’s National Assembly has passed a contentious Mineral and Petroleum Resources Development Amendment Act which the government said would create regulatory certainty and ensure the objectives of a developmental state were met but which one business group said would have ‘a chilling effect on investment’. The draft law, that will ultimately govern South Africa’s…

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Shell cuts spending on US shale gas as it refocuses on traditional strengths

Global oil major Royal Dutch Shell is cutting back investment in US shale plays by 20% and will favour investment into deep-water offshore opportunities and heavy oil. New CEO Ben van Beurden said the company is taking stock of investments and operating positions. This is driving “hard choices” for Shell’s investment and disposal plans. Annual…

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DNV GL launches global, risk-based shale development verification service

DNV GL, an independent foundation with the purpose of safeguarding life, property and the environment, has launched a tailor-made verification service to be as a tool to assure stakeholders that an independent assessment can assist in preventing incidents, reducing operational costs and limiting the environmental footprint of shale developments The service is based on the…

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