Shell making inroads in China
Europe's biggest oil company, Royal Dutch Shell, has announced a raft of new tie ups with Chinese partners as it bids to increase its exposure to Asia.
Europe's biggest oil company, Royal Dutch Shell, has announced a raft of new tie ups with Chinese partners as it bids to increase its exposure to Asia.
Shell has agreed on two offshore oil and gas production sharing contracts (PSCs) with CNOOC, the Chinese National Offshore Oil Company.
The PSCs are for two blocks in the Yinggehai Basin. Shell, as operator, will hold a 100% working interest during the exploration phase which will be reduced to 49% in any eventual development phase, with CNOOC as majority partner.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
CNOOC will also buy a 25% stake in a Shell project offshore Gabon.
The company has also signed a PSC amendment with another Chinese outfit, CNPC for a new phase in an existing gas project in the Changbei block, onshore China.
Shell shares were up 1.2% at 13:02
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
The five insurance policies you should have
Some insurance cover will be more important than others. We look at five insurance policies you may need to have to make sure you aren’t caught out in an emergency
-
Is Donald Trump putting the US dollar in danger?
Donald Trump's administration sees one of its greatest advantages – the US dollar – as a burden. Gold is the obvious beneficiary, says Cris Sholto Heaton.