News Snapshot:
China Petrochemical Corp, or Sinopec Group, has discovered abundant flows of natural gas and crude oil at an exploration well in northwestern China’s Xinjiang Uygur autonomous region, the company said on Monday. With a reservoir of an average depth of more than 7,300 meters, the Shunbei-42X well, which is also considered to be the deepest onshore oil and gas field in Asia, has made a substantial natural gas and crude discovery, yielding daily flows of 822,000 cubic meters of natural gas and 3 million metric tons of crude, said the company. The discovery represents progress for the State-owned oil giant...
