16th Jun 2014 14:49
LONDON (Alliance News) - The UK's two biggest oil companies, BP PLC and Royal Dutch Shell PLC, will unveil multi-billion pound deals with China on Tuesday as the government attempts to position the UK as Beijing's preferred European investment partner, Sky News reported Monday, citing insiders.
Sky News said that BP will announce a long-term deal to supply liquefied natural gas to China that is expected to be worth well over GBP5 billion, while Shell is expected to unveil its participation in a strategic framework agreement with state-owned China National Offshore Oil Corporation.
The deals would be among a number of trade deals set to be announced between the UK and China this week while Chinese Premier Li Keqiang is on his visit to London.
http://news.sky.com/story/1283405/bp-and-shell-land-china-deals-as-premier-visits
Shell shares are up 0.6% at 2,385.5 pence Monday, while BP shares are up 0.1% at 508.1 pence.
By Jon Darby; [email protected]; @jondarby100
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