Skip to Content Facebook Feature Image

Proven reserves of China's Fuling shale gas field exceeds 1 trln cubic meters

China

China

China

Proven reserves of China's Fuling shale gas field exceeds 1 trln cubic meters

2024-12-15 22:19 Last Updated At:12-16 04:17

The Fuling shale gas field in Southwest China's Chongqing Municipality has surpassed one trillion cubic meters in cumulative proven shale gas reserves, according to Sinopec, China's largest oil refiner.

The shale gas field has added around 121.356 billion cubic meters of newly proven reserves, raising the cumulative volume to nearly 1.02 trillion cubic meters.

Shale gas is an unconventional natural gas primarily composed of methane, found in organic-rich mud shale and its interlayers. It is regarded as a clean and innovative energy resource.

Development of the Fuling gas field began in December 2012, with commercial production commencing in March 2014, establishing the field as China's first large-scale shale gas project.

To date, it has produced over 70 billion cubic meters of shale gas, contributing approximately one-third of China's annual shale gas output.

Proven reserves of China's Fuling shale gas field exceeds 1 trln cubic meters

Proven reserves of China's Fuling shale gas field exceeds 1 trln cubic meters

The Organization of the Petroleum Exporting Countries (OPEC) lowered its forecast for global oil demand growth this year for the second month in a row, citing the prospects for weakening demand in non-OECD economies.

In its monthly oil market report released on Thursday, the Vienna-based oil group projected that global oil demand in 2026 will rise by 970,000 barrels per day from 2025 levels, down from the 1.17 million-barrel growth forecast in its May report and the 1.38 million forecast in April.

The downward revision, according to the report, was driven primarily by reduced demand expectations from non-OECD countries.

OPEC lowers forecast for 2026 global daily oil demand growth for second straight month

OPEC lowers forecast for 2026 global daily oil demand growth for second straight month

Recommended Articles