Sinopec Increase Exploration Efforts
Submitted by Bill Belew on Friday, 26 October 2007No Comment
Sinopec is the 'Avis' of oil companies in China…chasing PetroChina.
The company is set to launch a research program that involves 10 laboratories at an investment of $200 million.
The hunt is for
1. marine facies – geologic fossilized mineral content, are basins from ancient oceans.
2. Gas…natural gas
"Marine facies contribute to the bulk of the oil and gas discoveries from a global
perspective," says one senior researcher but China is far behind in this field…
The research will be done in cahoots with academic organizations across the country.
I am not a stock player…but in recent days, I have been tempted…the oil companies in China and telecommunications companies are going to make money for a long time…..
What do you think?
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