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News & Analysis

China Joining U.S. Shale Renaissance With $40 Billion – Bloomberg


“We are currently studying” investing in U.S. oil, Jiang Jiemin, chairman of the state-run company, said yesterday at the National People’s Congress meetings in Beijing. Domestic rival China Petrochemical Corp. last month agreed to buy stakes in an Oklahoma field from Chesapeake Energy Corp. CHK for $1.02 billion.

via China Joining U.S. Shale Renaissance With $40 Billion – Bloomberg.

Good article on China’s strategy of acquiring stakes in shale fields around the world in order to secure supplies of oil and natural gas for its economy.

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About NorthwestExpat

Economic developer and hobbyist photographer. My passions are family, skiing, hiking, Newfs, travelling and exploring the Great Northwest.

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