Japanese trading firm Sumitomo will focus on providing services and selling equipment in the US shale industry, instead of drilling for oil itself.
Japanese trading firm Sumitomo will look to increase its services and related business in the U.S. shale patch, three years after quitting shale production operations, Sumitomo president Shingo Ueno told Bloomberg in an interview published on Monday. In early 2021, Sumitomo sold the last of its production assets in the U.S. shale patch, divesting its oil-producing operations in the Eagle Ford.
. Tokyo Gas has been expanding its upstream business in the U.S. through , which became its subsidiary in 2020. Tokyo Gas Group’s plan through 2025 envisages that Tokyo Gas expand its shale gas business. has been seeking to acquire superior assets around its existing assets in Texas and Louisiana, the company said. Last week, Mitsui & Co. completed the acquisition of an unconventional gas asset in Texas from U.S. oil and gas E&P companies, Sabana, LLC and Vanna, LLC. This asset, named Tatonka, has access to the Gulf Coast industrial area, which includes LNG export terminals and ammonia plants, Mitsui said. By Tsvetana Paraskova for Oilprice.
US Shale Patch Shale Oil Services Pipelines Tokyo Gas Mitsui & Co Unconventional Gas Natural Resources
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