SINGAPORE, Jan 18 (Reuters) - * Asia-Pacific's upstream oiland gas sector holds up to $40 billion worth of opportunities in2017 as oil majors divest mature and mid-life assets in theregion, according to a research by Wood Mackenzie.* "Chevron and Shell hold the largest portfolioof legacy assets in the region, and in the latter half of lastyear signalled their intentions to sell assets in Myanmar,Bangladesh, Thailand, New Zealand and Malaysia, amongst others,"Woodmac says.* Despite these investment opportunities, Woodmac says spendingon new production will stay low due to falling capitalexpenditure.* Woodmac says it expects around 50 wells to be drilled thisyear in Asia-Pacific, down 70 percent from 2014 levels. (Reporting by Henning Gloystein)
Shell announces $4bn share buyback as Q3 profits beat expectations
(Sharecast News) - Oil giant Shell announced a $4bn share buyback on Thursday as it posted better-than-expected third-quarter profits.
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