CNPC
CNPC, Shell strengthen global cooperation
Shell Canada to go ahead with Kitimat LNG projects despite billion-dollar Chinese gas investment
Royal Dutch Shell’s decision to invest $1 billion a year in shale gas exploration in China has not changed Shell Canada’s plans to build a liquefied natural gas terminal at Kitimat aimed at the Chinese market.
Despite China’s potential for shale gas production, demand there is expected to outstrip supply, Shell Canada said Tuesday in a statement.
“The exploration and development of shale gas is expected to grow in China and Shell’s investments, largely with PetroChina, are reflective of that growth,” Shell Canada spokesman Stephen Doolan said. “However, the demand for energy in China and throughout Asia is expected to exceed domestic production.
Shell plans at least $1 billion a year China shale gas investment
BEIJING (Reuters) – Royal Dutch Shell plans to spend at least $1 billion a year exploiting China’s potentially vast resources of shale gas, the firm’s top China executive said, part of an aggressive strategy to expand in the world’s biggest energy market.
Shell in March secured China’s first product sharing contract for shale gas, hoping that getting in early will allow it to be a big beneficiary from the sort of boom in shale that has transformed the U.S. energy market.
Shell ups China presence with CNOOC tie-up
LONDON | Wed Jul 25, 2012 8:48am EDT
(Reuters) – Oil major Shell (RDSa.L) sealed an exploration tie-up with China’s state-run oil firm CNOOC (0883.HK) on Wednesday in a move which will help secure longer term growth from projects in the world’s energy-hungry second largest economy.
Shell said it agreed two partnership deals with CNOOC, one to explore for oil and gas in the Yinggehai basin in the South China Sea, and one to look for hydrocarbons off the coast of Gabon.
Shell already operates a gas field in central China, in the Changbei block, and said it would seek to increase production on that block through a separate amended agreement with state-run CNPC, where it is partnered with CNPC’s listed arm PetroChina (0857.HK).
Shell Revises Agreement With CNPC To Boost Tight Gas Output
July 25, 2012
By Wayne Ma and Alexis Flynn
BEIJING–Royal Dutch Shell PLC (RDSB) Wednesday revised an existing agreement with China National Petroleum Corp., or CNPC, to further develop tight gas at the joint Changbei project in northern Shaanxi Province.
Tight gas is an unconventional natural gas that is harder to extract because the deposit is surrounded by rock and sand.
Under an amended production-sharing contract, Shell and CNPC will develop tight-gas sands in addition to its already producing main reservoir and boost output beyond a current peak of 320 million cubic feet per day, it said in a statement.
Shell poised to bid for China shale gas exploration rights
By Xie Yu in Shanghai (China Daily): Updated: 2012-07-18 08:03
25.1 trillion cu m of exploitable shale gas resources could meet country’s gas demands for 200 years
Global energy giant Royal Dutch Shell Plc is eager to participate in China’s unconventional gas exploitation projects, especially shale gas, Lim Haw-kuang, executive chairman of Shell China Group, said on Tuesday in Shanghai.
“I am anxiously waiting for the second shale gas tender,” he said, adding that Shell is willing to cooperate with the Chinese companies that win the tender.
CNPC, Shell refinery JV in deal with local govt
Thu Oct 13, 2011 12:47am EDT
* Planned JV won initial approval, pending final green light
* Latest pact shows sincere intention to cooperate
* Shell likely to lead in the Shell-Qatar side
* Imported condensate eyed as feedstock for petchem
BEIJING, Oct 13 (Reuters) – A proposed refinery, a petrochemical joint venture between China’s CNPC, Royal Dutch Shell Plc and Qatar, this week signed a framework deal with local authorities in eastern China’s Zhejiang province where the mega project will be built.
Royal Dutch Shell Signs Pact With CNPC For A Well Manufacturing JV
LONDON (Dow Jones)–Royal Dutch Shell PLC (RDSA.LN) and China National Petroleum Company or CNPC, announced Monday a Global Alliance agreement emphasizing their shared intent to pursue mutually beneficial cooperation opportunities internationally as well as in China.
MAIN FACTS:
-The two parties also signed a Shareholders agreement to establish a Well Manufacturing joint venture (50% CNPC and 50% Shell) subject to further corporate and government approvals.
-It is intended that the joint venture will develop an innovative, highly automated Well Manufacturing System that could significantly improve the efficiency of drilling and completing new wells onshore.
Shell and BP slide down the ranks of top 50 oil companies
Chinas CNPC, meanwhile, passed up BP (BP) and Shell (RDS.A). CNPC is now ranked fifth on the list. ExxonMobil (XON), ranked third, is the only private firm in the top five, right below NIOC of Iran and PDV of Venezuela.
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