China’s Sinopec to continue shale gas development plans
Since the middle of June, crude oil prices lost around half of their value and this has led some companies to scale back or delay their capital expenditures and exploration activities. Sinopec aims to achieve 5 billion cubic meters (bcm) of annual capacity at the Fuling shale gas field in southwest China this year and to double the capacity of the field to 10 bcm in 2017. In 2015, China targets to produce a total of 6.5 bcm of shale gas.
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