Sector News

BP, China National Petroleum sign shale gas pact

April 1, 2016
News

Oil major BP PLC and China National Petroleum Corporation have signed a production-sharing contract for shale gas exploration, development and production in the Neijiang-Dazu block in the Sichuan Basin, China.

The contract is BP’s first shale gas deal in China and covers an area of 1,500 square kilometers, BP said Thursday. China National Petroleum will be operator for this project.

In addition to unconventional resources, the framework agreement covers possible future fuel-retailing ventures in China, exploration of oil and liquefied-natural-gas trading opportunities globally, as well as carbon-emissions trading. The two companies will also share knowledge around low-carbon energy and management practices.

By Ian Walker

Source: MarketWatch

Related News

August 23, 2019

The higher purpose of being a CEO

Borderless Leadership

LinkedIn Twitter Xing EmailWhen I left my second large company experience to become President of a small manufacturing company I did so driven by ego; I fancied the title. Soon […]

August 23, 2019

As Brexit nears, Britain’s drugs, devices and pricing regulators seek the exit

Life sciences

LinkedIn Twitter Xing EmailFirm details on exactly how the U.K. will regulate new medicines is still to be decided after it leaves the EU later this year (caveats on timing […]

August 23, 2019

The Simply Good Foods Company acquires Quest Nutrition for $1bn

Food & Drink

LinkedIn Twitter Xing EmailThe Simply Good Foods Company, the owner of Atkins-branded food products, has secured a deal to acquire protein snack maker Quest Nutrition for $1 billion. Quest, which […]

Send this to a friend