On June 18, the Ministry of Land and Resources coissued with All-China Federation of Industry & Commerce the “Guidance on Further Encouragement and Direction of Private Investment into National Land and Resources” (referred to “guidance” hereafter), to encourage and support the private investors to develop shale gas, coal bed gas, oil sands, shale oil and other non-regular oil and gas resources.
But the opinion of the two departments has not promised a bright future for the private companies. A senior manager unwilling to disclose his name from Jari Group said that “it is very hard to break the system monopoly and if the national government really liberates the market, private companies are willing to invest in this area.”
Tang Tingchuan, Director of the Development Strategy Deparment of the Policy Research Bureau of China Oil and Petroleum Corporation, said in an
Comment
The issuance of the guidance has relaxed the entry rules of the developing shale gas for private-owned companies. But these companies still he many challenges to face, including the financial resource, the key technology and the marketing of the explored resources. Therefore, private investors shall be prudent about entering such an industry.
But the opinion of the two departments has not promised a bright future for the private companies. A senior manager unwilling to disclose his name from Jari Group said that “it is very hard to break the system monopoly and if the national government really liberates the market, private companies are willing to invest in this area.”
Tang Tingchuan, Director of the Development Strategy Deparment of the Policy Research Bureau of China Oil and Petroleum Corporation, said in an
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interview that it is conditional for the involvement of private companies into the development of non-regular oil and gas resources. It requires not only the techniques but also abundant financial resources to develop the shale gas.Comment
The issuance of the guidance has relaxed the entry rules of the developing shale gas for private-owned companies. But these companies still he many challenges to face, including the financial resource, the key technology and the marketing of the explored resources. Therefore, private investors shall be prudent about entering such an industry.