Shell says China approves a product-sharing contract for the share gas block in Sichuan. Royal Dutch Shell has received approval from China for a production-sharing contract for the Fushun shale gas block in the southwestern province of Sichuan as it steps up drilling activities in the Asian country.
Tags: Oil exploration
BP to spend $1 billion on hundreds of job cuts, restructuring
BP will cut hundreds of jobs across its global oil and gas business by the end of next year in a $1 billion restructuring program announced on Wednesday following steep falls in oil prices.
Oil tycoon Dan Gertler wants partners for Congo oil development
Dan Gertler of Oil of DR Congo wanted partners to develop oil in Lake Albert in Congo. Oil magnate Dan Gertler, owner of Oil of DR Congo, would like partners to develop a potential oil find in the Democratic Republic of Congo.
Cairn Energy assures exploration in Africa and Ireland have more chances of success
Cairn Energy said its planned explorations in Northwest Africa and Ireland yielded up to 25% chance of success compared to its exploratory project in Greenland.
Cobalt fails to find oil in Gulf of Mexico well
Cobalt announced failure in Gulf of Mexico oil exploration site. Cobalt International Energy Inc. announced on Monday that their expedition for oil in the Gulf of Mexico failed.
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