Deals
PetroChina Seeks Oil Assets as Shale Gas Seen Years Away: Energy
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PetroChina Co. may take five years to figure out ways to unlock the world’s largest natural-gas reserves trapped in shale rock, meaning China must keep buying overseas energy assets to fuel the second-biggest economy.
“We still have a long way to go in turning possible shale resources into recoverable reserves,” Zhou Mingchun, chief financial officer at China’s largest oil and gas company, said in an interview in Beijing. PetroChina will pursue energy assets “wherever and whenever they become available.”