Chinese energy company RetroChina (a subsidiary of China National Oil Company) has discovered significant reserves of shale oil in China’s largest field, Daqing, the company is located in the northeastern province of Heilongjiang, RIA Novosti reported.
“The probable geological reserves of shale oil at the Daqing-Gulun field exceed 1.288 billion tons,” the company said in a statement.
It is also reported that the key wells show stable test production at 30 cubic meters of oil per day, and the total production of crude oil is more than 6 thousand tons.
“An important strategic breakthrough in the production of specific shale oil in the Songglao Basin has been achieved,” the company said.
The Daqing oil and gas field was discovered in 1959. Today, it is China’s largest field of geological reserves, with more than 5.7 billion tons of oil and 1 trillion tons of oil.
In July this year, it became known that in the first six months of this year, oil imports to China fell by 3% per year, reflecting rising world commodity prices and periods of planned shutdowns of refineries.
For the first time since 2013, oil imports to the country decreased in six months. In January-June, 260.6 million tons of oil were imported into the country, according to Chinese authorities. The EU has also reduced oil import quotas for independent refineries in a bid to cope with large crude oil reserves and limit carbon emissions.
Source: money.bg