China has discovered 40 billion...
China has discovered 40 billion tons of offshore oil and natural gas reserves, according to government sources.
The Chinese Ministry of Land and Resources says the oil and natural gas reserves are mainly in 38 depository basins in the territorial seas. A comprehensive evaluation shows that the total reserves may reach 35.140.4 billion tons in oil equivalent, with the reserves in the offshore basins reaching about 21.324.5 billion tons of oil equivalent.
Geological workers predict that the Qiangtang basin in the Qinghai-Tibet plateau is also promising rich oil and natural gas reserves.