Shale oil & gas

Nigerian government approves national gas policy

July 05, 2017 | Government & Regulations, Nigeria, Shale oil & gas

Abuja, Nigeria | – Nigeria’s federal  cabinet has approved a national gas policy that aims to reduce the country’s dependence on crude oil by increasing gas exploration and facilities, the oil ministry said in a statement. The policy was passed in last week’s cabinet session but only made public on Wednesday. Nigeria has for decades relied on its ample supplies of oil to power its economy. But despite having a wealth of crude, the vast majority was sent overseas for refining, and the country instead …

America’s Anadarko to sell Eagleford shale assets in South Texas for $2.3billion

January 13, 2017 | Asset Acquisitions & Divestitures, Shale oil & gas, United States & Canada

London, UK | – American petroleum and natural gas exploration and production company  Anadarko has signed an agreement to sell its Eagleford Shale assets in South Texas, US to a strategic 50/50 partnership formed by Sanchez Energy and asset manager Blackstone Group for about $2.3bn. The sale, which is scheduled to be completed in the first quarter of 2017, includes about 155,000 net acres located next to Sanchez’s Catarina asset, about 100 miles southwest of San Antonio. Anadarko plans to use part of the proceeds …

Shell pulling back from shale projects in South Africa

March 17, 2015 | Shale oil & gas, South Africa

Johannesburg, South Africa | – Royal Dutch Shell is pulling back from its shale projects in South Africa due to lower energy prices although it is still seeking an exploration license for the onshore Karoo Basin, its country manager said on Monday. A more than halving of crude oil prices since June last year has put high cost projects such as shale gas exploration in jeopardy around the globe, Shell South Africa Chairman Bonang Mohale told Johannesburg station Talk Radio 702. “The reason to go …

BP’s 2035 outlook sees OPEC oil gaining ground as US shale slows

February 18, 2015 | Shale oil & gas

London, UK |  – OPEC will regain ground and exceed its historic record production levels by 2030 as U.S. shale oil growth flattens out in the coming years, energy company BP said on Tuesday. In the near term, demand for oil from the Organization of the Petroleum Exporting Countries (OPEC) is likely to remain under pressure as U.S. shale oil production remains strong, BP said in its annual benchmark Energy Outlook 2035. Production of tight or shale oil in the United States has been the …

Algeria has world’s 4th largest shale gas reserve

February 01, 2015 | Algeria, Shale oil & gas

Algiers, Algeria | –  Surveys, conducted recently by Algeria’s Sonatrach Group in collaboration with energy companies working in Algeria, show that the country ranks fourth in terms of shale gas reserves after the US, China and Argentina. Algeria has a shale gas reserve of 4.940 trillion cubic feet, 15 percent of which or 740 trillion cubic feet are commercially feasible, the Ministry of Energy and Mining announced on Saturday. The shale gas reserves are located in the five Algerian Sahara basins of Ahnet, North Timimoun, …

Algeria’s Sonatrach plans $70 billion investment to explore shale gas

January 12, 2015 | Algeria, Shale oil & gas

Algiers, Algeria | – Algeria’s state-owned energy giant Sonatrach plans to invest at least $70 billion over the next 20 years to exploit shale gas in the southern desert, its managing director Said Sahnoun said on Sunday. Sonatrach intends to moves ahead with the plan despite protest against shale gas drilling in In Salah in Tamanrasset province. The company hopes to produce some 20 billion cubic meters (700 billion cubic feet) of shale gas per year from 200 drill sites, Sahnoun told state radio, according …

Chevron pulls out of Ukraine’s $10 billion shale gas deal

December 16, 2014 | Eastern Europe & Russia, Shale oil & gas

Kiev, Ukraine | – U.S. multinational energy major Chevron plans to withdraw from a $10 billion shale gas deal with Kiev, a senior Ukrainian presidential official said on Monday. Ukraine signed a shale gas production-sharing agreement with Chevron amid great fanfare in November 2013, just months before mass protests in Kiev ousted former president Viktor Yanukovich, plunging the country into a major crisis with Russia. “There is information that they (Chevron) are planning this decision,” Valeriy Chaliy told journalists, referring to a report by local …

Algeria plans to start shale gas production in 2022

October 14, 2014 | Algeria, Shale oil & gas

Oran, Algeria |  –  Algeria plans to begin production of shale gas in 2022, says Said Sahnoune, the chief executive officer (CEO) of the state-owned oil and gas corporation, Sonatrach. He said in a media statement on the sidelines of the International Conference on the Algerian Gas Industry now underway in this western city that “Algeria may start producing shale gas in 2022, if the drawn-up plan could be executed under the right conditions”. “By 2025, we could also achieve a production level of about …