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Royal Dutch Shell and PetroChina go ahead with $600 million development of Changbei natural gasfield

THE TIMES (UK): Need to know

May 18, 2005

Need to know: Global Business Briefing

Edited by Neelam Verjee and Joe Bolger

Natural resources

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Russia has abandoned plans to merge Gazprom, the gas monopoly, with Rosneft, the state-owned oil group. The restrictions on foreign ownership of Gazprom shares will probably now be lifted.

BP, the UK oil and gas giant, has blamed staff failure for the explosion and fire in March that killed 15 workers and injured more than 170 at its Texas City plant.

Royal Dutch/Shell, the Anglo-Dutch oil giant, and PetroChina will go ahead with the $600 million (£328 million) development of the Changbei natural gasfield.

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