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Sino-US dialogue: new opportunity for China oil energy
In the recently concluded second round of Sino-US strategic economic dialogue, the two sides signed seven economic cooperation agreements. One important outcome is about energy sector. Standing on the height of global energy security, the two sides reached a consensus in the energy market liberalization and technological cooperation. This win-win move of the two sides created a rare opportunity for the future development of China petroleum, especially for exploration and development of non-conventional energy resources.
The aspect primary intention of the cooperation in the shale gas between China and US is to use the USís experience in exploration of unconventional gas, carry out cooperation in resource appraisal of shale gas resources, exploration and development technology and related policy.
For China's oil itself, this is a good opportunity to skill upgrading. The domestic shale gas exploration and development technology is not perfect. This cooperation will help the China petroleum digest, absorb and innovate in the technology field.
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