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  1. BP, CNPC sign second Chinese shale gas PSC

    BP PLC and China National Petroleum Corp. (CNPC) have signed a second production-sharing contract (PSC) for shale gas exploration, development, and production covering a 1,000-sq km area at Rong Chang Bei in the Sichuan basin. The firms’ first agreement occurred in March and encompasses the adjoining Neijiang-Dazu block. As with the earlier contract, CNPC will operate the Rong Chang Bei PSC ( OGJ Online, Mar. 31, 2016 ). BP’s Energy Outlook 2016 expects that, by 2035, shale gas will account for a quarter of the total gas produced globally and China will become the world’s largest contributor to growth in shale gas production. The US Energy Information Administration estimates in its most recent report on shale oil and gas resources, last updated in September 2015, that China’s technically recoverable shale gas reserves total 1,115 tcf, the largest in the world. State-owned companies, namely CNPC and Sinopec Ltd., own the vast majority of the country’s shale gas resources, EIA notes. Chinese shale gas production, mostly from Sinopec’s Fuling block and CNPC’s Changning-Weiyuan block in the Sichuan basin, expanded fivefold during 2013-14 to 46 bcf/year. The Chinese government, however, has reduced its output targets due to “geological risks, lack of water needed for shale resource development, and lower-than-expected production rates,” EIA says. The latest PSC builds on BP’s and CNPC’s framework agreement on strategic cooperation that was signed almost a year ago ( OGJ Online, Oct. 21, 2015 ). In addition to unconventional resource exploration and development, the framework agreement covers possible future fuel retailing ventures in China, potential new oil and LNG trading opportunities globally, and carbon emissions trading, as well as sharing of knowledge around low carbon energy and management practices.

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    Thu, 1 Sep 2016

  2. US shale gas supports Ineos UK plant expansion

    Ineos AG, Rolle, Switzerland, is planning a multimillion-pound investment at subsidiary Ineos Oxide’s manufacturing site at Saltend, near Hull, UK, to expand production of a specialized solvent to be made from a main feedstock of US shale gas -derived ethylene produced at Ineos’ operations in ...

    Online Articles

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    Fri, 8 Jul 2016

  3. Mon Power substation to support West Virginia natural gas facility

    The plant is designed to remove salt brine and other materials from wastewater produced by the hydraulic fracturing process used to release shale gas

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    Thu, 1 Sep 2016

  4. Future U.S. tight oil and shale gas production depends on resources, technology, markets

    Based on projections, U.S. tight oil production is expected to reach 7.08 million barrels per day, and shale gas production is expected to reach 79 billion cubic feet per day in 2040.

    Online Articles

    Online Articles

    Tue, 23 Aug 2016

  1. WoodMac: Tight gas output triples in Argentina’s Neuquen basin, but costs still vary

    Online Articles

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    Wed, 17 Aug 2016

  2. BP, CNPC ink Chinese shale gas PSC

    BP PLC and China National Petroleum Corp. (CNPC) have signed a production-sharing contract for shale gas exploration, development, and production on Neijiang-Dazu block in China’s Sichuan basin.

    Online Articles

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    Thu, 31 Mar 2016

  3. Shale Gas : Global game changer

    Ten years ago, few crystal balls foresaw the lightning impact and development of shale gas on the world’s energy scene. In the last 10 years its use has grown from near zero to about 20% of the US gas stream. Booked shale gas reserves, at present rates of production, may still be onstream 100 years ...

    Online Articles

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    Tue, 8 Feb 2011

  4. EIA: Shale gas provides largest source of US natural gas production in 2013

    In 2013, shale gas wells became the largest source of U.S. natural gas production; with natural gas gross withdrawals reaching 82 billion cubic feet per day (Bcf/d).

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    Wed, 26 Nov 2014

  5. Projected natural gas prices depend on shale gas resource economics

    Considerable uncertainty exists regarding the size of the economically recoverable U.S. shale gas resource base and the cost of producing those resources.

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    Wed, 5 Sep 2012

  6. Task force advises UK to use shale gas revenue for CCS

    A shale gas industry task force is recommending that revenues from the industry be used to fund the development of carbon capture and storage projects.

    Online Articles

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    Wed, 16 Sep 2015

  7. Concerns about fracing are causing Europe to miss out on shale gas boom

    Europe’s loss is the United States’ gain with respect to shale gas production, says the chief executive of the world’s largest petrochemical group.

    Online Articles

    Online Articles

    Wed, 26 Dec 2012

  8. Pumps market could reach $47 million due to shale gas drilling

    The pumps market reached $35.3 million in revenues in 2012 thanks to large shale gas reserves in Europe encouraging drilling, according to a new report.

    Online Articles

    Online Articles

    Tue, 19 Nov 2013

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