Business Trends: China pushes shale gas drilling amid corporate shakeups

In what appears to be a move to increase domestic energy production and self-reliance, as well as boost competition among foreign companies, China is reorganizing its state-owned energy firms and widening the invitation to shale gas drillers. Notably, the expansion in hydraulic fracturing operations in China will unfold as shale gas drilling in the U.S. takes a breath amid financial pressures and decreased drilling rates. The continued, reciprocal imposition of tariffs on exports, including energy, by the U.S. and Chinese governments will provide a colorful backdrop for this scenario. Corporate shakeups amid trade war with U.S. Domestic energy giants China Petrochemical Corp. (Sinopec) and