China Opens Up to Foreign E&P Firms

For the first time, China will this year allow foreign companies to explore for and produce oil and gas in the country, opening up the industry to firms other than state-run energy giants, as Beijing looks to boost domestic energy supplies.

The long-awaited opening accompanies a reshuffle of the so-called “midstream” pipeline business, but experts say it may not excite immediate interest from global drillers because of the poor overall asset quality of China’s hydrocarbon resources.

Continue reading

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.