An abundant source of domestic energy is obviously appealing to policymakers in Beijing, but China is still years away from exploiting the opportunity.
The cost of exports and domestic lobbying to keep the oil and gas at home will limit the benefits to consumers based outside the US, particularly in the short-term, panelists at an annual Credit Suisse conference argue.
In its second deal with Chesapeake in less than six months, CNOOC agrees to pay up to $1.27 billion for a one-third interest in a shale-gas acreage in the US.
India’s largest private sector company Reliance Industries continues on its US acquisition spree by spending $392 million on a shale gas joint venture with Carrizo.