Confirmation last week that China will delay its second tender for shale gas blocks came as no surprise to analysts, who expect further holdups as Beijing attempts to draft a viable strategy for tapping its vaunted shale resources.
In the latest setback, China’s Ministry of Land and Resources (MLR) confirmed to Interfax last week it would delay the licensing round until September.
“This auction has been delayed repeatedly, and progress was already undoubtedly slow,” Simon Powell, CLSA’s head of oil and gas for Asia, told Interfax.
“In the past 10 years,...
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