Shenhua Energy Co Acquires Shale Gas Block

Reuters reported that coal producer Shenhua Energy Co has acquired a shale gas block in southern China through auction, as they work to diversify their energy base.

As quoted in the market report:

The move was part of the state-owned giant’s strategy to “broaden its presence in the energy market and optimise its business model as an integrated energy company,” said Shenhua Energy, which also owns power plants and railways and ports.

To view the whole Reuters report, click here.