BP is expected to sign a deal worth about $5bn today (Tuesday 17th of June) as part of Beijing’s strategy to reduce carbon emissions.
Shell has signed a supply deal with the China National Offshore Oil Corporation (CNOOC) to work on projects around the world, including LNG. The UK’S two largest oil companies are expected to announce the £11.8bn totaled deals later today and comes at a time when China has been securing a multitude of LNG supply deals to secure the country’s desire for the product.
Deals have already been secured with BG and Gazprom for the supply of LNG – with the Shell and BP deals coming at a time when the Chinese leader, Premier Li Keqiang, is on a three day visit to the UK.
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