at Investor's Business Daily (Thu, 6:38PM)
ConocoPhillips (COP -0.7%) joins the shale gas search in China, announcing it will research potentially vast reserves in southwestern China with Sinopec (SNP +1.5%) over the next two years. Both Shell (RDS.A, RDS.B) and Chevron (CVX) already have joined with SNP to exploit China's extensive natural gas reserves, making COP the third international oil giant to join in the hunt. The Chinese government has targeted raising annual shale-gas output from practically nothing to 6.5bcm by 2015 and as much as 100bcm by 2020.
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