Chinese oil production in Der Spiegel

alokin · Intermediate Crude Joined: Aug 24, 2007 Posts: 792

here's a link to the German site and underneath I wrote the most important statements.
What do you think of this? To me it sounds like a press release of Petro China.

http://www.spiegel.de/wirtschaft/0,1518,554623,00.html

... only Chinese production rises

.. with maneuvrable drill bits and steam they drill in old fields now
.. in the desert of Taklamakan there are oil reserves as big as Libya
.. the production in the oil field Daging is rising once again
.. in the first quarter of this year China could rise oil production by 2.2%, but it's only 50% of their domestic need.
.. China bys more oil from Saudi Arabia than the US
.. Petro China drills more and more offshore
...the gulf of Bohai may hold 405 Mio tons.
.. EIA estimates estimates in the desert of Taklamakan 43 billion barrel

and then there is some praise about the technology used...Spiegel

OilFinder2

From page 16 of Oilwatch Monthly (PDF, 1.15 MB), Chinese oil production:

And yes, there seems to be a lot of oil in Bohai Bay.

--> 7.5 billion barrel discovery a year ago <--

And according to one Chinese academic, Bohai Bay may hold 146 billion barrels.
_________________
Abundance - what a concept!

idiom

Well then. Will we let China have a soft landing or shall we invade?

Eli

How much oil do the Chinese export?

China needs oil more than the US.

alokin · Intermediate Crude Joined: Aug 24, 2007 Posts: 792

nil, the article seemed to me like a translation of a press release of Petro China. However, the technological level seems to be pretty good.