Sinopec to Focus on Overseas Unconventional Energy Sources

China Petroleum & Chemical Corp, or Sinopec, will continue to invest overseas in unconventional natural gas and oil to boost its output and offset losses in its refining operations, China Daily reported citing a company official.

The company plans to focus on unconventional energy sources like shale gas, shale oil, etc.

The report said that the state owned company will make full use of the domestic and foreign markets to boost its capability to gain resources, and it will propel natural gas development.

In recent years, Chinese oil companies have been purchasing assets in unconventional gas, especially shale gas in countries like Canada.