AFX Europe (Focus); Shell to develop oil shale in northeastern China from April: Wednesday Jan 11, 2006
BEIJING (AFX) - Royal Dutch/Shell Group will start developing oil shale resources in northeastern China's Jilin province from April, said the Ministry of Commerce.
The ministry said in a statement published on its website that the annual output of the project is expected to be 5-15 mln tons of crude oil.
No further details were provided.
Shell (China) Ltd set up a joint venture with Jilin Guangzheng Mineral Development Co Ltd in September last year for the oil shale project, with 61 pct of the venture owned by Shell and 39 pct owned by Jilin Guangzheng.
China has the fourth-largest oil shale deposits in the world after the US, Brazil and Russia, while Jilin province, accounts for about 56 pct of the country's total.
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