China Sets Out To Develop More Local Oil, Gas ...Middle East

OILPRICE - Economy
China Sets Out To Develop More Local Oil, Gas
source : OILPRICE ( Middle East ) () 50
China's government this week made a decisive step towards developing more of the country's oil and gas reserves, including unconventional ones. A new umbrella company grouping all the state majors will drill for ultradeep oil and gas, and explore shale formations. Given China's standing as a top wind and solar producer—and investor—the move might come as a surprise for some. Yet it is, in fact, a most logical step towards boosting energy security, following Beijing's all-of-the-above attitude to energy. The new group, besides oil giants…

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