focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBP Share News (BP.)

Share Price Information for BP (BP.)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 489.30
Bid: 489.05
Ask: 489.10
Change: -7.65 (-1.54%)
Spread: 0.05 (0.01%)
Open: 491.70
High: 492.90
Low: 485.55
Prev. Close: 496.95
BP. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

FACTBOX-Foreign firms in China's shale gas sector

Fri, 17th May 2013 06:03

(Adds Italy Eni's joint study with CNPC)

BEIJING, May 17 (Reuters) - Italian oil firm Eni has entered a joint study with China's CNPC to explore a shalegas block in the southwestern province of Sichuan, officialssaid on Friday, becoming one of the latest foreign firms toenter China's shale gas sector.

International oil and gas firms have shown interest inChina's potentially vast shale gas reserves that are believed tobe the world's largest, although there has been littlecommercial production to date.

Companies like and Hess Corp, Shell, Chevron and Exxon Mobil have partnered with China's state oilfirms PetroChina and Sinopec Corp thatoperate vast acreage, though most of them are early stages ofcooperation like joint studies.

Outside the acreage operated by Chinese energy majors, thegovernment has opened two shale gas auctions.

Sixteen Chinese companies won 19 blocks in the second tenderthat concluded last December, all of which are non-oil firmswhich means they will need to buy in the expertise they lack,creating opportunities to big service companies such asSchlumberger and Baker Hughes, as well as local playerssuch as Anton Oilfield Services Group

The following lists foreign firms' activities in China'sshale gas business, based on company statements, industryofficials and media reports.

ConocoPhillips : in joint study agreement with Sinopec Group for block Qijiang insouthwestern Sichuan province. ConocoPhillips will carry outtwo-dimensional seismic survey and drill twowells.

In Aug 2010, was reported to be in advanced talks withPetroChina over the development of a 3,000 squarekilometres shale gas block between Chengdu, capital ofsouthwestern Sichuan province, and Chongqing municipality.

Royal Dutch Shell:Chief Executive Officer Peter Voser said in March that Shellwould enter "significant drilling season" this and next year atFushun block and also tight gas block Jinqiu, both in Sichuanprovince, to find the "sweet spots" for longer-term productionplan.

Shell would also focus in the next few year to bring downthe cost. "The more you drill, the more you'll get amanufacturing approach to your drilling operation," Voser said.

The company in March won China's approval for a shale gasproduction sharing contract to develop the Fushun block, whereindustry officials said early explorations at one well testeddaily gas output of 60,000-130,000 cubic metres. Total : Agreed in March with Sinopec Group to jointly study a shaleblock in Anhui province, and drill three wells. In March 2012, Total reached a preliminary agreement to form ajoint venture with Sinopec to hunt for shale gas, according to amedia report.

Eni:Joint study with CNPC agreed in March for the 2,000 square-kmRongchang block in Sichuan province. The block is locatedadjacent to Shell's Fushun block. The deal is connected withEni's sale of a 20-percent stake of an offshore Mozambique gasfield to CNPC for $4.21 billion.

Exxon Mobil :In July 2011, agreed to study with Sinopec a shale gas block in southwestern part of Sichuan. The block, Wuzhishan-Meigu, coversan area of 3,643 sq km.

Chevron :In April 2011, Chevron entered a joint study agreement toexplore for shale gas in Qiannan Basin in southwestern Guizhouprovince. It has started drilling the second and third wellsthis year, the company said.

Hess Corp :In July 2010, Hess entered a study pact with Sinopec Corp tolook at shale gas and oil potentials in Shengli oilfield in eastChina, China's second-largest crude oil producer. Also in ashale oil study in western Xinjiang region.

BP :In Jan 2010, Sinopec was reported in talks with BP overpotential cooperation in the exploration anddevelopment of a 2,000-square-kilometre shale gas block in Kailiin Guizhou province and a 1,000-square-kilometre block inHuangqia in the northern part of Jiangsu province.

Newfield Exploration:In Oct 2007, the Houston-based company agreed to jointlystudy with PetroChina shale gas resources at the Weiyuan fieldin the Sichuan basin in southwestern China. (Reporting by Chen Aizhu and Beijing newsroom)

More News
18 Apr 2024 14:12

UK shareholder meetings calendar - next 7 days

Friday 19 April 
Murray International Trust PLCAGM
Quantum Exponential Group PLCGM re delisting or potential investment in company
Monday 22 April 
Renalytix PLCGM
Travis Perkins PLCAGM
Tuesday 23 April 
AIQ LtdAGM
NatWest Group PLCAGM
Taylor Wimpey PLCAGM
Wednesday 24 April 
abrdn PLCAGM
abrdn Equity Income Trust PLCAGM
AssetCo PLCAGM
Breedon Group PLCAGM
British American Tobacco PLCAGM
Bunzl PLCAGM
Coro Energy PLCAGM
Croda International PLCAGM
Entain PLCAGM
Greencoat UK Wind PLCAGM
Primary Health Properties PLCAGM
Serco Group PLCAGM
Synectics PLCAGM
Thursday 25 April 
AFC Energy PLCAGM
Admiral Group PLCAGM
Beazley PLCAGM
BP PLCAGM
CLS Holdings PLCAGM
CRH PLCAGM
Dalata Hotel Group PLCAGM
Develop North PLCAGM
Drax Group PLCAGM
Everest Global PLCAGM
Greencoat Renewables PLCAGM
Hammerson PLCAGM
Helios Towers PLCAGM
Hikma Pharmaceuticals PLCAGM
International Biotechnology Trust PLCAGM
London Stock Exchange Group PLCAGM
Manx Financial Group PLCAGM
Mattioli Woods PLCGM re Pollen Street Capital Ltd takeover
Persimmon PLCAGM
Premier Miton Global Renewables Trust PLCAGM
Relx PLCAGM
Schroders PLCAGM
Smithson Investment Trust PLCAGM
Tissue Regenix Group PLCAGM
Weir Group PLCAGM
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
18 Apr 2024 12:02

LONDON MARKET MIDDAY: FTSE 100 up despite hawkish Fed rates outlook

(Alliance News) - Stock prices in London were higher on Thursday afternoon, despite the prospect of higher for longer US interest rates hanging over stocks.

Read more
18 Apr 2024 09:04

IN BRIEF: BP trims executive team in operational restructuring

BP PLC - London-based oil and gas major - Announces organisational restructuring. Intends to keep its three businesses - production & operations, gas & low carbon energy and customers & products - enabled by trading & shipping. Plans to integrate the current regions, corporates & solutions organisation into the businesses and functions. BP will now be supported by five functions: finance; technology; strategy, sustainability & ventures; people & culture; and legal. BP explains these changes will "reduce duplication and reporting line complexity".

Read more
18 Apr 2024 08:11

BP cuts size of executive team, shakes up structure

(Sharecast News) - BP has trimmed its executive team as part of a shake-up of its organisational structure, it was confirmed on Thursday.

Read more
17 Apr 2024 18:58

Shell urges investors to reject shareholder group's climate demands

LONDON, April 17 (Reuters) - Shell on Wednesday urged shareholders to vote against an independent resolution, co-filed by a group of 27 investors, that called on the energy company to set tighter climate targets.

Read more
17 Apr 2024 17:36

Sustainable Finance Newsletter - Republican AGs look to limit climate groups

April 17 (Reuters) - In prior newsletters I have reported on the ongoing review by U.S. energy regulators of top asset managers' big utility holdings.

Read more
17 Apr 2024 13:55

Shell urges investors to reject shareholder group's climate demands

LONDON, April 17 (Reuters) - Shell on Wednesday urged shareholders to vote against an independent resolution, co-filed by a group of 27 investors, urging the energy company to set tighter climate targets.

Read more
17 Apr 2024 10:38

Carbon Done Right advances Sierra Leone rewilding project

(Alliance News) - Carbon Done Right Developments Inc on Wednesday said it has received the fourth disbursement of financing for its reforestation project in West Africa.

Read more
15 Apr 2024 17:10

LONDON MARKET CLOSE: Investors show nerves after Iran launches drones

(Alliance News) - Stock prices in London closed down on Monday, as tensions in the Middle East weighed on investors, with resources sliding as commodity prices fell.

Read more
15 Apr 2024 15:39

London close: Stocks slip on renewed geopolitical tensions

(Sharecast News) - London's equity markets markets experienced a downturn on Monday, with losses particularly notable in the mining and oil sectors, as investors remained cautious amid to escalating geopolitical tensions in the Middle East.

Read more
15 Apr 2024 11:56

LONDON MARKET MIDDAY: Oil falls despite rising Iran-Israel tensions

(Alliance News) - London's FTSE 100 was down at midday on Monday, as oil majors BP and Shell were hurt by falling prices, with investors showing caution following Iran's strikes on Israel over the weekend.

Read more
15 Apr 2024 08:59

LONDON MARKET OPEN: FTSE 100 falls as oil lower despite Iran strikes

(Alliance News) - Stock prices in London opened lower on Monday, with a decline in oil prices sending Shell and BP lower, in a cautious start to the week following Iran's strikes on Israel over the weekend.

Read more
13 Apr 2024 16:52

Sector movers: Investors seek out safe havens across all asset classes

(Sharecast News) - Commodity plays were again sought out at the end of the week after The Wall Street Journal said that an Iranian attack against Israel was thought to be imminent.

Read more
12 Apr 2024 17:28

FTSE 100 sets near record close as commodity stocks shine

FTSE 100 up 0.9%, FTSE 250 off 0.3%

*

Read more
12 Apr 2024 16:56

LONDON MARKET CLOSE: Miners lift FTSE 100 but sea of red elsewhere

(Alliance News) - London's FTSE 100 defied a tricky day for wider markets, as its miners and oil producers shone, while the dollar was supported as odds of the US Federal Reserve enacting three interest rate cuts this year dwindle.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.