Chinese oil giant PetroChina expects to start pumping shale oil from a project in its major oilfield cluster in northeast China in 2025, company executives and analysts tell Reuters, as the world's top oil importer looks to sustain its oil production and potentially lessen its dependence on imports. PetroChina is investing billions of U.
S. dollars into fracking technology and development to drill the shale formations in the Gulong area in its major Daqing oilfield cluster. …China Bets On Shale To Raise Its Oil Production
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