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Sinopec, Shell agree on joint study of China shale oil block

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China's Sinopec Corp has agreed with Royal Dutch Shell to jointly study a shale oil block in east China's Shengli oilfield, the Chinese state oil and gas major said on Monday.

[SINGAPORE] China's Sinopec Corp has agreed with Royal Dutch Shell to jointly study a shale oil block in east China's Shengli oilfield, the Chinese state oil and gas major said on Monday.

The study, a rare case of joining with a foreign energy major on shale oil in China, will be on the Dongying trough of Shengli in eastern province of Shandong, Sinopec said on its website, without giving further details.

China is at a very early stage in developing shale oil, which makes up less than one per cent of its total crude output, according to Angus Roger, research director of Asia-Pacific upstream at Wood Mackenzie. 

REUTERS

 

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