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Chinese oil and gas companies were absent from the top echelon of bidders in the country's...
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Thursday, December 6, 2012, 10:53 AM ETChinese oil and gas companies were absent from the top echelon of bidders in the country's second shale gas block auction, "a strange result [which] demonstrates how immature shale is in China." The government has targeted raising annual shale gas output from minimal levels now to as much as 100B cubic meters by 2020, but Wood Mackenzie predicts it could reach barely one-tenth of the target.
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