Welcome To IANS Live - NATION - China to enter Sri Lanka's fuel market
A gr
Stay updated with breaking news from Sinopec Group. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
China's Sinopec has pledged to invest in Sri Lanka's southern district of Hambantota at a meeting with the island nation's president, Ranil Wickremesinghe, the President's Media Division (PMD) said, Economy Next reported.
China wants to reap the benefits of a shale gas revolution similar to the one in the United States, but there are many obstacles to this happening, experts say.In the first half of 2013, fifty-six shale gas wells were in the exploratory phase in the country, but only twenty-four were producing gas. Only six wells—all dug by either China Petrochemical Corp. (Sinopec Group) or
China expressed its plans to enter Sri Lanka's fuel market by investing on importing, storage, distribution and supply fuel to the Indian Ocean island nation which went through a severe fuel crisis.A group of representatives from China's ...