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Mixed Signals between China National Petroleum Corp and Shell

Screen Shot 2014-02-10 at 16.29.29The comment refuted media reports that Shell senior executives had showed signs of wanting to cut the company’s expenditures on the project many times…

China National Petroleum Corp (CNPC) said it was not informed that its Dutch partner would downsize the investment on their jointly explored shale gas project in Southwest China’s Sichuan Province, Shanghai-based newspaper China Business News reported on Monday.

An unnamed CNPC representative was quoted by the report as saying that the cooperation between CNPC and Royal Dutch Shell Plc remains the same. The two signed a shale gas production sharing contract in Sichuan in 2012.

The comment refuted media reports that Shell senior executives had showed signs of wanting to cut the company’s expenditures on the project many times due to the exploration difficulties as a result of complicated geological conditions and dense population.

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