Monthly Archives: April 2013

Exxon, BHP plan world’s biggest FLNG

ROSS KELLY | Dow Jones | April 02, 2013 12:56PM EXXONMOBIL and BHP Billiton laid out plans to develop a huge natural gas field off the coast of Australia that would use the world’s largest vessel capable of processing the gas at sea. The … Continue reading

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Chevron Pares Executive Pay

Updated April 2, 2013, 7:08 p.m. ET By DANIEL GILBERT Chevron Corp. docked compensation for its chief executive and two other top officials over accidents last year, trimming bonuses and other incentive pay while increasing their salaries. The oil giant reduced the bonus … Continue reading

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Medco Energi Sets 2013 Upstream Capex at $419 Million

MARCH 26, 2013 Indonesian upstream independent, Medco Energi, set its 2013 oil and gas E&P budget at $419 million. Further out, it forecast its 2013-2015 capex budget would be around $1.1 billion. Indonesia Project Updates Senoro Upstream, Central Sulawesi: Gas … Continue reading

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China approves shale gas deal with CNPC: Shell

Updated: 2013-03-28 09:40 (Xinhua) BEIJING — Royal Dutch Shell announced Wednesday that the Chinese government has approved the company’s shale gas exploration deal with the China National Petroleum Corporation (CNPC). Huibert Vigeveno, chairman of Shell China, said at a news briefing that authorities have approved a production-sharing contract with China’s largest oil and gas producer that will allow both sides to explore and produce unconventional gas in southwest China’s Sichuan province. The contract is the first shale gas production-sharing contract approved by the Chinese government. Under the deal, Shell will drill wells in the Fushun-Yongchuan shale gas block in 2013 and 2014 to examine the geological features of the block. The company will then make exploitation plans based on the features, according to Vigeveno. The chairman said Shell’s current exploration shows that shale gas deposits in China are more abundant than in North America, although complicated geological features in China make it harder to tap the gas. Vigeveno said Shell will seek further cooperative deals in China, but added that he isn’t sure whether the company will sign new shale gas contracts in the short-term. The CNPC and Chinese authorities have not confirmed the approval or commented on it. Matthias Bichsel, director of the company’s project and technology business, said Shell can bring its technology to China and speed up the exploration of the country’s unconventional gas. The CNPC and Shell signed the shale gas production-sharing contract earlier this month. Shell said it would apply its advanced technology, operational expertise and global experience to the project.

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