Sinopec Boasts Output Growth at Shale Field

China’s Sinopec has boosted oil production at a shale field from 100 tons per day in 2021 to 1,600 tons per day this year, the company said, as quoted by Reuters. One metric ton of crude oil is equal to about 733 barrels, meaning the current production rate at the Jiyang field is around 11,700 barrels daily. At this rate, state-owned Sinopec said, it would hit its target of an annual cumulative production rate of half a million tons at the Jiyang field next year. Earlier in 2024, Sinopec announced an oil and gas discovery at another shale…