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2015-05-28 18:00:00

CNPC FINDS BIG OIL

CNPC FINDS BIG OIL

China's CNPC said Tuesday that it has made the country's first ever tight oil discovery to exceed 100 million tons.

According to Reuters, the discovery was made at the company's Changqing field at the Ordos Basin in the western province of Shaanx.

State owned CNPC said the discovery holds over 100 million tons of oil, or more than 733 million barrels, but has not disclosed the exact size of the find or a recoverable resources estimate.

Changqing produced 6 million tons of crude, or about 487,000 barrels per day, in the first quarter of this year.

Tight oil production capacity at the Ordos Basin currently exceed 1 million tons, Reuters said.

Changqing was discovered in 1970 and became China's second largest producing field in 2009 after pumping over 30 million metric tons of oil equivalent.

petroglobalnews.com

Tags: CNPC, CHINA, OIL,

Chronicle:

CNPC FINDS BIG OIL
2018, November, 19, 11:20:00

U.S. SECURITIES OUTFLOW $29.1 BLN

U.S. DT - The sum total in September of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a net TIC outflow of $29.1 billion. Of this, net foreign private inflows were $23.5 billion, and net foreign official outflows were $52.7 billion.

CNPC FINDS BIG OIL
2018, November, 19, 11:15:00

U.S. INDUSTRIAL PRODUCTION UP 0.1%

U.S. FRB - Industrial production edged up 0.1 percent in October, as a gain for manufacturing outweighed decreases elsewhere. As a result of upward revisions primarily in mining, the overall index is now reported to have advanced at an annual rate of 4.7 percent in the third quarter, appreciably above the gain of 3.3 percent reported initially.

CNPC FINDS BIG OIL
2018, November, 19, 11:10:00

GREEN NUCLEAR ENERGY

WNN - "nuclear energy is a "mature, low greenhouse gas emission source of baseload generation that could make an increasing contribution to global development based on low-carbon energy supply".

CNPC FINDS BIG OIL
2018, November, 19, 11:05:00

SAUDIS, PAKISTAN INVESTMENT: $6 BLN

ARAB NEWS - Saudi Arabia has shown investment interest in Pakistan’s largest coastal refinery, a multibillion-dollar project being set up at Khalifa Point, near Hub, Balochistan, officials have confirmed.

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