New China oil field huge

UPI ^ | May 04, 2007

[jdm]

TANGSHAN CITY, China, -- May 4 China's national oil company says the reserves it has discovered in Bohai Bay are more than three times larger than previously thought, making it the nation's biggest find in 40 years.

The China National Petroleum Corp. said Thursday that it now estimates the oilfield in the Jidong district at Tangshan City contains 7.3 billion barrels, compared to the 2.2 billion originally estimated, the state-run Xinhua news agency reported.

PetroChina, CNPC's holding company, turned in $18.5 billion in net profits last year, making it Asia's most profitable company.

[Cindy]

PING

[kinoxi]

the oilfield in the Jidong district at Tangshan City contains 7.3 billion barrels, compared to the 2.2 billion originally estimated, the state-run Xinhua news agency reported.

For any other country this would be odd I guess, most city limits don't extend that far out into the water...

[anymouse]

I’m sure the environmentalists will be out protesting and stopping this ecological raping of the coastal environment. /sarc

[Cindy]

Ditto.

[HisKingdomWillAbolishSinDeath]

Its amazing how we seem to running into oil, not out of it. Of course, when the Earth is a giant oil producing plant, its pretty tough to run out.

[rmlew]

A map might be in order for those who have not taken Chinese history. It is about 200 miles east of Beijing.

[carumba]

No Chinese history, just a rollicking good Clive Cussler novel.

[rmlew]

No Chinese history, just a rollicking good Clive Cussler novel.
Which one?
Personally, I like Patrick Robinson.

[Caipirabob]

Get those carbon-offsets ready, Chi-Coms!

Oh, lol!

[snowsislander]

For any other country this would be odd I guess, most city limits don't extend that far out into the water...

Oddly enough, Tokyo also has some far-flung islands (Chichi-jima and Haha-jima) in its municipal limits. From the last page of one of my Tokyo mapbooks, (東京 10,000), measuring the distance to Chichi-jima from Tokyo seems to come to something under 700 miles.

According to the Wikipedia, a dubious source of "information" (I still have a difficult time believing that the Wikipedia webpage on the "1880 Treaty of Iwo Jima" isn't just a silly hoax; I cannot find any other reference to this "treaty", and it seems very unlikely to me that the U.S. and Japan had diplomatic delegations meeting in 1880 on that inhospitable location), there are also more two distant islands included in Tokyo's municipal limits called Minami Torishima and Okino Torishima, but I would take take this webpage on the Ogasawara Islands (aka the Bonin Islands) with a grain of salt. No city map of Tokyo that I own shows these two more distant Minami Torishima and Okino Torishima islands as part of Tokyo.

[saganite]

So much for there being no more elephants. I’m betting there will be more such discoveries in Africa soon.

[Thermalseeker]

I’m betting there will be more such discoveries in Africa soon.

An old friend of mine is a Geologist and has been working in oil exploration for 25 years. He goes all over the world in his search. He says virtually everywhere they look they find oil and we are not in any danger of running out anytime in the next three CENTURIES.....of course, there are those who claim we are running out, but that has more to do with keeping the price up.

[thackney]

7.3 billion barrels in China = huge, international story

10.4 billion barrels in ANWR = too small to be worth going after

[Kellis91789]

“PetroChina, CNPC’s holding company, turned in $18.5 billion in net profits last year, making it Asia’s most profitable company.”

C’mon, Hillary, where are you ? Why aren’t you screaming about what you’ll do with THOSE profits ?

[kinoxi]

Interesting.

[ribosomal soup]

C’mon, Hillary, where are you ? Why aren’t you screaming about what you’ll do with THOSE profits ?

PetroChina is state-owned.

[trumandogz]

Additional oil on the market is always good news.

[Mike-o-Matic]

I agree. The more they are pumping at home, the less demand they’re putting on sources outside of China.

[Kellis91789]

Yes, I know.

Just because she has no legal claim to a company’s profits doesn’t mean anything.

She had no legal claim to Exxon Mobil’s profits, either.