logo
Plus   Neg
Share
Email

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, 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."

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Walmart is ditching its dress code policy and is testing a new dress code that will allows "associates" to wear blue denim and shirts of any solid color. The updated dress coded guidelines now allow employees to wear blue "jeggings" and blue jeans and shirts of any solid color, according to a Walmart... Canadian investment firm Fairfax Financial Holdings Ltd. has submitted a "stalking horse" bid worth C$300 million, or $237 million, for the Canadian unit of Toys "R" Us, according to court documents. A stalking horse bid is an initial bid on the assets of a bankrupt company. The bankrupt company will choose an entity from a pool of bidders who will make the first bid on its assets. The car rental market in the U.S. is consolidating as large car rental companies are buying smaller, local companies to expand their portfolio of premium and value brands. The key players in the U.S. market include Enterprise Holdings, Hertz Global Holding and Avis Budget Group. Let's take a look at some of the best and worst car rental companies in the U.S.
Follow RTT