中石化

Sinopec fined for slow progress on shale gas

Chinese authorities have fined shale gas developers including state-owned oil company Sinopec for failing to meet their investment commitments.

Officials in Beijing are eager to replicate the North American shale boom, in the face of reluctance from oil companies.

Shale gas development has moved slowly in China because of difficult geography and a legal system that reserves most oil, gas and pipeline infrastructure for a handful of state-owned companies.

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