China Shale Boom Seen by Honghua as Pollution Cuts Coal Use
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Honghua Group, a Chinese drilling-equipment maker that gets most of its business from overseas, is seeking to expand at home as the nation works to spark its own shale gas revolution.
The Chengdu, Sichuan-based company, which has sold rigs for use in U.S. gas fields since 2005, sees an opportunity in China as the country looks to boost production from shale formations to meet growing energy demand and move away from dirtier sources of fuel like coal, Chairman Zhang Mi said in an interview.