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: 485.90
Bid: 485.95
Ask: 486.05
Change: -11.05 (-2.22%)
Spread: 0.10 (0.021%)
Open: 491.70
High: 492.10
Low: 485.75
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
6 Feb 2024 17:39

London close: Stocks manage gains as oil prices rise

(Sharecast News) - London's financial markets finished with a positive performance on Tuesday, driven by encouraging data from the UK construction sector and BP's share buyback expansion.

Read more
6 Feb 2024 17:04

LONDON MARKET CLOSE: BP and Prudential help snap FTSE losing streak

(Alliance News) - Stock prices in London pushed higher on Tuesday, with the FTSE 100 registering its first rise in four trading days, with oil major BP the star performer.

Read more
6 Feb 2024 12:10

LONDON MARKET MIDDAY: BP tops FTSE 100 index on buyback promise

(Alliance News) - The FTSE 100 was higher at midday Tuesday, despite lingering unease in equity markets on US interest rate worries, while BP led the way among London's large-caps as it announced a buyback plan.

Read more
6 Feb 2024 09:04

TOP NEWS: BP promises buybacks and hikes dividend despite profit fall

(Alliance News) - BP PLC on Tuesday reaffirmed it is sticking to its commitment to share buybacks despite reporting a profit decline amid a fall in oil prices.

Read more
6 Feb 2024 08:53

LONDON MARKET OPEN: BP jumps after unveiling share buyback

(Alliance News) - The FTSE 100 in London opened higher on Tuesday, with oil major BP at the top of the index, thanks to its new share buyback programme.

Read more
6 Feb 2024 07:47

LONDON BRIEFING: BP promises buyback despite drop in profit

(Alliance News) - Stocks in London are called to open higher, ahead of a slew of construction purchasing managers' index readings from the eurozone, the UK and Germany.

Read more
6 Feb 2024 07:02

BP unveils $1.75bn buyback as 2023 profits halve on weaker oil price

(Sharecast News) - Shares in BP surged on Tuesday as the energy giant announced a $1.75bn share buyback despite a slump in annual profits as oil prices fell during 2023 from the spike caused by Russia's invasion of Ukraine.

Read more
2 Feb 2024 17:12

LONDON MARKET CLOSE: Stocks mixed as US jobs data dashes rate cut hope

(Alliance News) - Stock prices in London closed mixed, after hotter-than-expected US jobs data hit already precarious investor sentiment and all but ensured the Federal Reserve will not be cutting interest rates next month.

Read more
2 Feb 2024 13:14

BP appoints Kate Thomson as its permanent finance chief

(Sharecast News) - BP announced the appointment of Kate Thomson as its new, permanent chief financial officer on Friday, effective immediately.

Read more
2 Feb 2024 12:27

TOP NEWS: BP promotes Kate Thomson as permanent finance chief

(Alliance News) - BP PLC on Friday named Kate Thomson as its permanent chief financial officer, after being in the interim role since September.

Read more
2 Feb 2024 12:09

LONDON MARKET MIDDAY: Airlines up but oil falls on Middle East talks

(Alliance News) - Stock prices in London were higher at midday Friday, ahead of the afternoon's US jobs data, as earnings from tech behemoths overnight lifted investor morale.

Read more
2 Feb 2024 08:54

LONDON MARKET OPEN: European stocks lifted on Wall Street's gains

(Alliance News) - Stock prices in London opened higher on Friday, closing of a busy week of monetary policy decisions.

Read more
1 Feb 2024 17:03

LONDON MARKET CLOSE: Stocks down on hawkish BoE interest rates hold

(Alliance News) - Stock prices in London closed down on Thursday after the Bank of England left interest rates on hold in a split decision that was hawkish on expectations of rate cuts.

Read more
1 Feb 2024 12:22

LONDON MARKET MIDDAY: BoE keeps bank rate on hold in split decision

(Alliance News) - London's FTSE 100 was on the up on Thursday afternoon after the Bank of England left interest rates on hold on Thursday, in a split decision.

Read more
1 Feb 2024 10:06

New UK oil and gas exploration licences approved in the North Sea

(Alliance News) - The UK's oil and gas regulator has awarded 24 new exploration licences to 17 separate companies in a move that has been welcomed by a trade body but condemned by climate campaigners.

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.