Royal Dutch Shell (NYSE:RDS.A) announced Wednesday that it signed a deal with China National Petroleum Corp.

Shell's CEO Peter Voser said, "We are delighted about this new milestone in our strategic cooperation with CNPC. China has huge shale gas potential and we are committed to making a contribution in bringing that potential into reality."

The deal allows Shell to search, expand and produce shale gas in the Sichuan Basin.

Royal Dutch Shell (NYSE:RDS.A) has potential upside of 15.5% based on a current price of $71.02 and an average consensus analyst price target of $82.

Royal Dutch Shell is currently above its 200-day moving average (MA) of $69.41 and should find resistance at its 50-day MA of $72.03.

In the last five trading sessions, the 50-day MA has fallen 0.18% while the 200-day MA has remained constant.

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