Sinopec calls for more government support for China shale oil projects

Reuters03-06

BEIJING, March 6 (Reuters) - China's government should introduce preferential tax and financial support policies for the country's shale oil sector, the chairman of state oil and gas giant Sinopec Ma Yongsheng said on Wednesday.

China's shale oil reserves are more geologically complex and expensive to develop than those in North America, where drillers have achieved large scale commercial extraction of shale reserves with the help of government financial support, Ma said in a statement.

Authorities should also increase financial support for scientific and technology research to raise shale oil output, he added.

China has invested heavily in developing shale oil and other capital intensive, technically challenging reserves to support domestic oil production as output from mature fields declines.

(Reporting by Andrew Hayley, Editing by Louise Heavens)

((Andrew.Hayley@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2417686022?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-03-06 18:25","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2417686022","market":"fut","top_or_hot":-1,"title":"Sinopec calls for more government support for China shale oil projects","media":"Reuters","content":"<html><body><p>BEIJING, March 6 (Reuters) - China's government should introduce preferential tax and financial support policies for the country's shale oil sector, the chairman of state oil and gas giant Sinopec    Ma Yongsheng said on Wednesday.</p><p>   China's shale oil reserves are more geologically complex and expensive to develop than those in North America, where drillers have achieved large scale commercial extraction of shale reserves with the help of government financial support, Ma said in a statement. </p><p>   Authorities should also increase financial support for scientific and technology research to raise shale oil output, he added. </p><p>   China has invested heavily in developing shale oil and other capital intensive, technically challenging reserves to support domestic oil production as output from mature fields declines.</p><p> (Reporting by Andrew Hayley, Editing by Louise Heavens)</p><p>((Andrew.Hayley@thomsonreuters.com;))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sinopec calls for more government support for China shale oil projects</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSinopec calls for more government support for China shale oil projects\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-06 18:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BEIJING, March 6 (Reuters) - China's government should introduce preferential tax and financial support policies for the country's shale oil sector, the chairman of state oil and gas giant Sinopec    ...</p>\n\n<a href=\"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"00386","symbol_name":"中国石油化工股份","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2417686022","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2417686022","pubTimestamp":1709720737,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"BEIJING, March 6  - China's government should introduce preferential tax and financial support policies for the country's shale oil sector, the chairman of state oil and gas giant Sinopec    Ma Yongsheng said on Wednesday.   China's shale oil reserves are more geologically complex and expensive to develop than those in North America, where drillers have achieved large scale commercial extraction of shale reserves with the help of government financial support, Ma said in a statement.    Authorities should also increase financial support for scientific and technology research to raise shale oil output, he added.    China has invested heavily in developing shale oil and other capital intensive, technically challenging reserves to support domestic oil production as output from mature fields declines. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"00386":"中国石油化工股份","LU0173614495.USD":"富达中国焦点A","LU0359201612.USD":"贝莱德中国基金A2","LU1051768304.USD":"贝莱德新兴市场股票收益A6","LU0359202008.SGD":"Blackrock China Fund A2 SGD-H","LU1023057109.AUD":"BGF CHINA \"A2\" (AUDHDG) ACC","LU1515016050.SGD":"Blackrock Emerging Markets Equity Income A6 SGD-H","LU0140636845.USD":"施罗德大中华区股票A Acc","DUG":"二倍做空石油与天然气ETF(ProShares)","SCO":"二倍做空彭博原油指数ETF","LU0293314216.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"A\" (USD) ACC","BK1521":"挪威政府全球养老基金持仓","DWT":"三倍做空原油ETN","DGAZ":"三倍做空天然气ETN(VelocityShares)","USO":"美国原油ETF","LU0348805143.USD":"ALLIANZ ENHANCED ALL CHINA EQUITY \"A\" (USD) INC","LU0823426308.USD":"法巴中国股票基金","LU0287142896.SGD":"Fidelity China Focus A-SGD","LU1282651048.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"AMG\" (USD) INC","LU0326950275.SGD":"Schroder ISF China Opportunities A Acc SGD-H","BK1562":"石化股","UGAZ":"三倍做多天然气ETN(VelocityShares)","DDG":"ProShares做空石油与天然气ETF","LU0823426480.USD":"法巴中国股票经典Dis","BK1528":"石油股票概念","BK1226":"综合性石油与天然气企业","UNG":"美国天然气基金","UCO":"二倍做多彭博原油ETF","LU0651946864.USD":"贝莱德新兴市场股票收益A2"},"translate_title":"中石化呼吁政府加大对中国页岩油项目的支持力度","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"00386":0.9,"QMmain":0.9,"QGmain":0.9,"NGmain":0.9,"CLmain":0.9,"SCO":0.6,"UCO":0.6,"UGAZ":0.6,"UNG":0.6,"USO":0.6,"BZmain":0.6,"DWT":0.6,"DUG":0.6,"DGAZ":0.6,"DDG":0.6},"content_text":"BEIJING, March 6 (Reuters) - China's government should introduce preferential tax and financial support policies for the country's shale oil sector, the chairman of state oil and gas giant Sinopec    Ma Yongsheng said on Wednesday.   China's shale oil reserves are more geologically complex and expensive to develop than those in North America, where drillers have achieved large scale commercial extraction of shale reserves with the help of government financial support, Ma said in a statement.    Authorities should also increase financial support for scientific and technology research to raise shale oil output, he added.    China has invested heavily in developing shale oil and other capital intensive, technically challenging reserves to support domestic oil production as output from mature fields declines. (Reporting by Andrew Hayley, Editing by Louise Heavens)((Andrew.Hayley@thomsonreuters.com;))","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2417686022"}