22 March 2012 06:38 [Source: ICIS news]
SINGAPORE (ICIS)--China Petrochemical Corporation (Sinopec Group) plans to increase exploration of shale gas in order to achieve a production target of 2bn cubic meters (cbm)/year by 2015, a company source said on Thursday.
The 2bn cbm/year target is almost one third of what ?xml:namespace>
Sinopec, the state-owned petrochemical giant, will invest more than Chinese yuan CNY 1bn ($158m) on shale gas and oil industry development this year, added the source.
($1 = CNY6.31)
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