Royal Dutch Shell Plc  .com Rotating Header Image

BPZ, Shell unit end talks

Calgary Herald

Published: Friday, January 09, 2009

BPZ Resources Inc. and a unit of Royal Dutch Shell PLC agreed to end talks aimed at jointly exploring for oil and gas in Peru after oil prices slumped.

Houston-based BPZ, which signed a letter of intent with Shell in June, will keep its 100 per cent working interest in blocks Z-1, XIX and XXIII and also Block XXII, which wasn’t part of the proposed deal. All of the blocks are in northwest Peru, BPZ said Thursday.

“A joint venture under the current environment, driven by reduced and volatile commodity prices, could place an unwarranted financial burden on BPZ and its shareholders,” said BPZ chief executive Manuel Zuniga.

© The Calgary Herald 2009

SOURCE ARTICLE

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Comment Rules

  • Please show respect to the opinions of others no matter how seemingly far-fetched.
  • Abusive, foul language, and/or divisive comments may be deleted without notice.
  • Each blog member is allowed limited comments, as displayed above the comment box.
  • Comments must be limited to the number of words displayed above the comment box.
  • Please limit one comment after any comment posted per post.