• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 10 days Does Toyota Know Something That We Don’t?
  • 4 days America should go after China but it should be done in a wise way.
  • 10 days World could get rid of Putin and Russia but nobody is bold enough
  • 10 hours "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 12 days China is using Chinese Names of Cities on their Border with Russia.
  • 11 hours The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 2 days Even Shell Agrees with Climate Change!
  • 3 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 4 days How Far Have We Really Gotten With Alternative Energy
  • 12 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
Offshore Oil Discoveries Thrive

Offshore Oil Discoveries Thrive

But despite the industry as…

U.S. Oil Drilling Sees 6-Rig Gain

U.S. Oil Drilling Sees 6-Rig Gain

The total number of active…

Qatar to Enter North American Shale Gas Industry with Exxon Mobil Deal

On Monday, Exxon Mobil Corp (NYSE: XOM) signed a memorandum of understanding with Qatar Petroleum International (QPI) in which both agreed to work together to evaluate and assess unconventional natural gas reserves in North America, as well as potential liquefied natural gas (LNG) opportunities around the world.

Nasser Al-Jaidah, the chief executive officer of QPI, stated that the deal “signifies our joint interest in expanding our partnership both domestically and internationally in order to address the growing and evolving role of natural gas, which continues to play a larger role in meeting the needs of an increasing population.”

Both companies have a history of working together in Qatar, the number one LNG exporter in the world, and own stakes in LNG terminals in the United Kingdom, Italy, and the United States.

Related article: How to Play the Coming Rise in Natural Gas Prices

QPI has just recently bought oil and natural gas assets in North America, announcing on Monday that, in partnership with Britain’s largest energy supplier, Centrica, it has purchased assets from Suncor Energy in a $986.73 million deal, that also includes some shale gas potential.

The North American shale gas boom over recent years effectively stole a huge customer from Qatar Petroleum, forcing them to find new buyers for millions of tonnes of LNG a year, which they had initially planned to sell to the US.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News