China reports discovery of ‘huge’ tight oil deposit

China said state-owned energy giant China National Petroleum Corp (CNPC) has discovered the country’s largest tight oil deposit in northwest Shaanxi Province. Tight oil is an unconventional energy which exits in petroleum-bearing formations like shale or sandstone. Commercial production from tight oil formations usually requires similar technology used in shale gas production. CNPC estimated that…

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China’s elusive shale gas boom: NOC’s to the rescue?

In the coming decade, China’s natural gas market is expected to undergo robust growth fueled by a number of environmental and economic drivers. A much discussed natural gas strategy for China is to develop its shale gas resources – an unsurprising choice given that the country is home to the largest technically recoverable shale gas…

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China’s national oil firms best suited to bring innovation to shale gas: US report

China’s National Oil Companies (NOCs) are the country’s best hope for overcoming the innovation problem faced by the shale gas industry, says a research report by Resources for the Future, a Washington-based think tank. The discussion paper titled Stimulating Shale Gas Development in China: A Comparison with the US Experience published last week, argues that…

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2014 to be most active year for global shale drilling – Wood Mackenzie

2014 will be the most active year for international shale drilling, with oil & gas firms drilling some 400 shale wells outside North America this year, according to a new report by leading energy research and consulting firm Wood Mackenzie. The bulk of international shale drilling this year is concentrated in Argentina, Australia and China,…

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