Sinopec certifies 1.3bn barrels in reserves in east China shale oil plays

New reserves cater to Beijing's call for enhancing domestic energy security

Sinopec aims to prove over 730 million barrels of new reserves every year, with a goal to pump 40,000 barrels per day of shale oil by 2030. © Reuters

March 3, 2025 21:30 JST

SINGAPORE (Reuters) -- Sinopec said on Monday that the Chinese government has certified about 180 million tonnes, or about 1.3 billion barrels, of new geological reserves at two of its shale oil plays.

The new reserves were tapped at the Xinxing field in the Jiyang trough of the Bohai Bay basin and the Qintong field in the Subei basin, Sinopec said in a statement.