China Shale News Review – Jul 28 , 2023
◊ Fully Liberalize the Oil and Gas Exploitation Market in China
The Ministry of Natural Resources held a press conference to introduce the reform of the mining right transfer system, the reform of Oil & Gas exploration and production management, and the reform of reserves management.
◊ Liaoning Petroleum’s Business Volume Significantly Increased in the First Half of the Year
Liaoning Petroleum achieved a 16% increase in refined oil business volume from January to June compared to the same period in 2019; Retail sales increased by 14% year-on-year, while natural gas sales increased by 329% year-on-year.
◊ Daqing Oil Field Produced 15.0913 Million Tons of Crude Oil in H1
In the first half of this year, Daqing Oil Field has produced a total of 15.0913 million tons of crude oil; Production of natural gas reached 2.969 billion cubic meters, a year-on-year increase of 63 million cubic meters.
◊ East China Oil and Gas Branch: Reconstruction of Shale Oil Demonstration Area
Two wells in Shale oil demonstration area of East China Oil and Gas Company completed 48 segment reservoir reconstruction, and two wells successfully completed reservoir reconstruction.
◊ Accumulated Natural Gas Production of Yuanba Gas Field Exceeds 30 Billion Cubic Meters
The world’s first 7000 meter deep and high sulfur reef atmospheric field, the Yuanba Gas Field of Southwest Petroleum Bureau, has accumulated over 30 billion cubic meters of natural gas and reduced carbon dioxide emissions by 40 million tons.
(Source: Energy China Forum)
