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China energy security
EconomyChina Economy

China discovers 2 major shale oilfields in boost for energy security

Beijing has launched a drive to uncover new domestic fossil fuel reserves as it seeks to reduce its dependence on imports

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Workers check equipment at a shale gas facility in the southwestern Chinese city of Chongqing. China has launched a major push to tap new domestic fossil fuel reserves to shore up its energy security. Photo: Xinhua
Carol Yang

China has discovered two major shale oilfields boasting combined reserves of 180 million tonnes, in another boost to the country’s push to reduce its reliance on fossil fuel imports.

Sinopec, China’s largest oil refiner, announced the discoveries on Monday and confirmed the sites are located in northeastern China’s Bohai Bay Basin and the Subei Basin in the eastern province of Jiangsu, respectively.

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Early assessments indicate the two shale oilfields have the capacity to maintain stable production over the long term, Chinese state-run news agency Xinhua reported.

For the first time, the reserves were assessed using China’s self-developed industry standards for shale oil reserves, according to Xinhua.

The finds are the latest fruits of China’s push to uncover new domestic sources of critical natural resources, including fossil fuels and critical minerals such as lithium, cobalt and rare earths.

The Mineral Exploration Breakthrough Strategy, launched in 2011, is designed to shore up the country’s energy security and protect its giant manufacturing sector by ensuring factories have access to stable supplies of vital resources.

That campaign has ramped up over the past four years, leading to the discovery of 10 new oilfields that each contain over 100 million tonnes of reserves, 19 natural gas fields with over 100 billion cubic metres of reserves, and 10 large uranium deposits, China’s Ministry of Natural Resources said in a press conference last week.
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China is one of the world’s largest crude oil consumers, and now ranks third globally in terms of recoverable shale oil reserves.

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