Economy News

Chinese President Xi Jinping

China boosts shale power capacity amid plummeting demand for oil, gas globally

The coronavirus outbreak has disrupted economic activities across the globe. The oil and gas demand has plummeted in the recent weeks and storage facilities are filled to the brim. While economies are struggling to find means and measures to tide over the crisis, the Fuling shale gas field in southwest China's Chongqing Municipality sees a breakthrough in shale gas output producing 30 billion cubic meters of shale gas. Will this impact Chinese imports of alternative fuels? Where will the excess produce be stored, used, or routed? May 12, 2020
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