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Royal Dutch Shell exits Abu Dhabi’s $10bn gas project

stander
stander
in Oil, Gas and Energy News

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Royal Dutch Shell says it is withdrawing from a key natural gas project in Abu Dhabi, mentioning a drastic fall in global energy prices as the main reason.

The Anglo-Dutch oil giant announced in a statement on Monday that it had decided not to develop the Bab sour gas reservoirs in cooperation with the United Arab Emirates’ state-run Abu Dhabi National Oil Co (ADNOC) as a result of plunging oil markets, AFP reported.

http://www.presstv.com/Detail/2016/01/18/446320/Shell-Abu-Dhabi-Bab-sour-gas-project/

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