Chinese oil companies are giving U.S. firms a bigger stake in exchange for the tools and technology of hydraulic fracturing, and many of those tools are made in Texas, or nearby.
The Chinese hope hydraulic fracturing can launch a shale production gusher as it has in the United States–although China’s formations are deeper, and some are especially challenging because they’re in remote deserts or near densely populated cities.
But the Chinese government is eager to reduce the country’s thick air pollution, and one step in that direction would be power plants that run on cleaner-burning natural gas instead of coal.
Halliburton, FTS International and other companies have entered into joint ventures with Chinese companies and are providing some of the technology needed to open up the Chinese shale.
Collin Eaton has the full story on houstonchronicle.com