BP ploughs lonely shale gas furrow in China
China is inviting foreign operators to develop its vast deposits
Given that several major international oil companies gave up on shale gas exploration in China and went elsewhere, there is a lot of interest in what BP is doing there. The company started drilling in the Neijiang-Dazu block in the southwestern province of Sichuan in September and will try its luck in early 2018 in the nearby Rong Chang Bei block. BP has moved quickly after signing a production-sharing contract last year with China National Petroleum Corporation in what looks likes a bold move following the withdrawal of Hess, Chevron, Shell and ConocoPhillips from China's shale gasfields in pursuit of more profitable plays. So far, the history of independents in China's shale gas has been u
Also in this section
29 April 2026
Trafigura’s $1b prepayment agreement confirms African resource holders’ renewed interest in oil-backed financing deals as they look to capitalise on high oil prices
29 April 2026
The UAE’s departure from the oil producers’ group was a surprise to many, but the move can be traced back to a single point five years ago
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
