Shell, CNPC cooperating in deep-sea exploration, shale gas

Joseph Keefe
Wednesday, April 09, 2014

Royal Dutch Shell and the China National Petroleum Corp (CNPC) have signed a deal to boost cooperation in sectors like deep sea exploration as well as liquefied natural gas (LNG) and unconventional gas sources like shale, CNPC said on Wednesday.

The two companies had agreed to join forces in the development of both upstream and downstream energy businesses, CNPC said on its website. (www.news.cnpc.com.cn)

Ben van Beurden, in his first overseas visit since becoming Shell's chief executive, told CNPC Chairman Zhou Jiping that both sides have set up deep and wide-ranging ties and have huge room for further cooperation.

The Anglo-Dutch firm is already one of the biggest overseas investors in China's energy sector, and it could be well-placed to take advantage of Beijing's plans to grant foreign enterprises more market access.

It is already partnering up with CNPC, the country's top energy group and parent of PetroChina , to explore and develop shale gas in China's western regions.

Shell hopes to benefit from the operational and technological experience gained during the development of shale gas in North America, while CNPC holds the country's premium oil and gas acreage.

Shell also plans to partner CNPC to build a $12.6 billion refinery and petrochemical complex in eastern China, a project that could become the single largest foreign investment in the country.

It is also major supplier of LNG to China, securing gas from its global gasfields in Australia, Qatar and elsewhere.

 

Reporting by Judy Hua and David Stanway / Reuters

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

US Oil Drillers Add Rigs for 4th Week in 5

U.S. drillers this week added oil rigs for a fourth week in five, according to a closely followed report Friday, in the best month of producers returning to the

Norsafe Secures Contract with VARD Group

Norsafe informs it has signed a new contract with VARD Group, and will supply lifeboats complete with davit systems to a series of 15 new vessels.    Topaz Energy

India’s Potential in Offshore Wind Power

The Global Wind Energy Council (GWEC) launched a new report: “Supply Chain, Port Infrastructure and Logistics Study” for offshore wind development in the states of Gujarat and Tamil Nadu in India.

Finance

Baltic Index Up for Eighth Straight Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, continued its rise on Friday, for an eighth consecutive session,

Asia-N.Europe Box Rates up 77 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe rose 77.4 percent to $1,206 per 20-foot container (TEU) in the week ended on Friday,

Euronav Share Buyback

Euronav NV (NYSE: EURN & Euronext: EURN) (“Euronav” or the “Company”) today announces that the Company has purchased 192,415 of its own shares on Euronext Brussels for an aggregate price of EUR 1,

Energy

US Oil Drillers Add Rigs for 4th Week in 5

U.S. drillers this week added oil rigs for a fourth week in five, according to a closely followed report Friday, in the best month of producers returning to the

First Alaskan North Slope Cude Export Planned for Nicaragua

Alaskan North Slope (ANS) crude will be shipped to Nicaragua for the first time in July, two trade sources said on Friday, underscoring a shift in oil flows to and from the U.

India's Iran Oil Imports Surge in June

India's Iran oil imports rose about 39 percent in June year on year, preliminary data obtained by Reuters shows.   In the first half of 2016 India's Iran oil

LNG

Tallink Christens LNG Ferry Megastar

A new LNG-driven fast ferry Megastar was christened in Meyer Turku shipyard for owner/operator Tallink Grupp. The environmentally sound ship was christened on

Conrad Shipyard Forms LNG Business Unit

Conrad Shipyard has formed a new business unit focused on LNG projects.   Conrad, builder of North America’s first LNG bunker barge scheduled for 2017 delivery,

VEB Guarantees $3 Bln of Yamal LNG Debt

Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek.

Logistics

Op/Ed: Supply Chain Hindered by Cumbersome Regulation

The Federal Maritime Commission (FMC), which has always been a valuable resource in supply chain management, announced the formation of a Supply Chain Innovations

Asia Tankers-VLCC Rates Expected to Soften

MidEast rates slip from two-week high on June 28; raft of new ships and repaired vessels weigh on rates. Freight rates for very large crude carriers (VLCCs)

Will Zim Join 2M?

Israeli carrier Zim Integrated Shipping Services (ZIM) might join the 2M Alliance between Maersk Line and Mediterranean Shipping Co., Alphaline said quoting industry sources.

Offshore Energy

US Oil Drillers Add Rigs for 4th Week in 5

U.S. drillers this week added oil rigs for a fourth week in five, according to a closely followed report Friday, in the best month of producers returning to the

Boskalis Bags Aberdeen Offshore Windfarm Deal

Royal Boskalis Westminster N.V. (Boskalis) has been appointed the preferred Offshore Balance of Plant contractor by Vattenfall for the construction of Aberdeen Offshore Wind Farm,

Construction Begins on Johan Sverdrup Riser platform

The riser platform construction start was marked today at the Samsung Heavy Industries yard in South Korea. Project director for Johan Sverdrup Kjetel Digre (from right),

 
 
Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1132 sec (9 req/sec)