Singapore-China’s top two state-owned companies PetroChina and Sinopec are pushing ahead with efforts to commercialize their dedicated shale gas projects in China, mainly because drilling costs have fallen. Speaking last week at the company’s annual results briefing, Sinopec Chairman Fu Chengyu said shale and unconventional gas will continue to be a strategic point of growth for the company, despite falling oil prices and a 12% cut in its capital budget to $22 billion.
展开▼
