Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

CNPC, Shell Ink First Shale Gas Production Sharing Contract In China

Shell China Exploration and Production Co. Ltd., a subsidiary of Royal Dutch Shell Plc (RDS-A: Quote, RDSA.L, RDSB.L, RDS-B), said the company and China National Petroleum Corp., or CNPC, signed a production sharing contract for shale gas exploration, development and production in the Fushun-Yongchuan block in the Sichuan Basin, China.

Shell stated that the contract area covers around 3,500 square kilometres. The company added that it will apply its advanced technology, operational expertise and global experience in the project to jointly develop the shale gas resources with CNPC.

Peter Voser, chief executive officer of Royal Dutch Shell, said, "China has huge shale gas potential and we are committed to making a contribution in bringing that potential into reality."

Click here to receive FREE breaking news email alerts for Royal Dutch Shell Plc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Kraton Performance Polymers, Inc. (KRA), Wednesday reported second-quarter net income of $11.1 million or $0.33 per share, up from $3.8 million or $0.12 per share last year. Adjusted earnings improved to $0.46 per share from $0.15 per share last year. Revenues for the quarter dropped to $323.8... Organic grocer Whole Foods Market, Inc. said Wednesday after the markets closed that its third quarter profit rose 6.3% from last year, as same-store sales increased 3.9%. The company's quarterly earnings per share also came in above analysts' expectations, but its quarterly sales fell shy of analyst' forecast. Micro-blogging site Twitter Inc said Tuesday after the markets closed that its second quarter loss widened from last year, hurt mainly by stock-based compensation expense, even as revenue more than doubled thanks to growth in advertising. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.