China’s learning curve in the sector may be shortened by its acquisition of producing US assets and direct technology transfer, but it could still take China much longer to start large-scale commercial production if the Beijing government keeps the door closed to the private sector.
This week’s $1 billion purchase by China National Offshore Oil Corporation (CNOOC) of a 33% stake in a portion of the Eagle Ford shale gas play held by Chesapeake Energy represents the latest move by Chinese companies to gain access to US expertise.
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