Royal Dutch Shell plans to invest US$500 million in this year in the upstream and downstream sectors in China. Shell aims to increase its presence in the Chinese energy market, where rivalry is increasing by the day with other oil giants like BP, Exxon Mobil and Total. Shell China‘s Executive Chairman Lim Haw Kuang said that the company has so far invested around US$3.5 billion in China and expects further investments of up to US$500 million during the year.
The new investments include setting up of new project facilities and expansion of existing facilities. Kuang further said that Shell would spend on oil and gas exploitation, downstream refining and oil retailing. Shell’s plans in China include increasing its existing 200 service stations operational in Suzhou of Jiangsu Province to 500 this year in partnership with Sinopec. In the upstream business, Shell jointly with PetroChina is developing the Changbei gas field in Northwest China’s Shaanxi Province.
