The exclusive change from Zoomlion’s external business to the joint venture with Other companies was the only modification. The “People’s Republic of China on Foreign Cooperation in Exploitation of Onshore Petroleum Resources Regulations†officially announced on September 24 relaxed the coalbed methane cooperative mining policy. It is possible for one company to become an independent foreign company and become able to cooperate with other companies in cooperation with foreign partners.
On September 18, the State Council, in the form of State Council Decree No. 506, approved the implementation of the "Decision of the State Council on Amending the Regulations of the People's Republic of China on Foreign Cooperation in Mining onshore Oil Resources." The "Decision" made the following amendments to the "Regulations of the People's Republic of China on Foreign Cooperation in the Exploitation of Onshore Petroleum Resources": the "External Cooperative Exploitation of Coalbed Methane Resources, as stipulated in Article 30, shall be implemented by China United Coalbed Methane Co., Ltd. The “Regulations Implementation†was amended to read: “Cooperative exploitation of CBM resources is carried out by China National Coalbed Methane Co., Ltd. and other companies designated by the State Council to implement the franchise and refer to this Ordinance.†Analysis by industry insiders indicates that China does not rule out allowing multiple companies. Collaboration with foreign companies to mine CBM. This is one of the measures that the government wants to mobilize multiple forces to accelerate the development of new energy in the face of energy pressure.
In the early 1990s, due to China's rich CBM resources, foreign companies actively sought cooperation in China. Due to the lack of corresponding laws and regulations, the external cooperation of coalbed methane is in a disorderly state. The former Ministry of Coal, the Ministry of Geology and Minerals, and some local governments respectively signed agreements or contracts with foreign companies for cooperation in the development of coalbed methane in 12 blocks. As the bulls and the outsiders have no rules to follow, many problems have arisen. The State Council held a special meeting for this purpose. Under the premise of determining that the mineral resources belong to the country, it decided to implement a franchise for coalbed methane mining, and the exclusive cooperation of China United Coalbed Methane Co., Ltd., a national company that enjoys the exclusive right of coalbed methane extraction.
It is understood that as the world’s largest producer and consumer of coal, China’s coal is rich in coalbed methane, a companion and symbiotic resource. According to experts' estimation, the shallow CBM resources of 2,000 meters above sea level amount to 30 trillion to 35 trillion cubic meters, which exceeds the amount of conventional natural gas on land, equivalent to 45 billion tons of standard coal. In North China, where the population is concentrated and the economy is relatively developed, CBM resources account for about 62% of the total resources, which to some extent make up for the insufficiency of the distribution of conventional natural gas. The development and utilization of CBM is one of the most realistic and reliable strategic measures for increasing clean energy, reducing natural gas imports, and improving energy supply security.
On September 18, the State Council, in the form of State Council Decree No. 506, approved the implementation of the "Decision of the State Council on Amending the Regulations of the People's Republic of China on Foreign Cooperation in Mining onshore Oil Resources." The "Decision" made the following amendments to the "Regulations of the People's Republic of China on Foreign Cooperation in the Exploitation of Onshore Petroleum Resources": the "External Cooperative Exploitation of Coalbed Methane Resources, as stipulated in Article 30, shall be implemented by China United Coalbed Methane Co., Ltd. The “Regulations Implementation†was amended to read: “Cooperative exploitation of CBM resources is carried out by China National Coalbed Methane Co., Ltd. and other companies designated by the State Council to implement the franchise and refer to this Ordinance.†Analysis by industry insiders indicates that China does not rule out allowing multiple companies. Collaboration with foreign companies to mine CBM. This is one of the measures that the government wants to mobilize multiple forces to accelerate the development of new energy in the face of energy pressure.
In the early 1990s, due to China's rich CBM resources, foreign companies actively sought cooperation in China. Due to the lack of corresponding laws and regulations, the external cooperation of coalbed methane is in a disorderly state. The former Ministry of Coal, the Ministry of Geology and Minerals, and some local governments respectively signed agreements or contracts with foreign companies for cooperation in the development of coalbed methane in 12 blocks. As the bulls and the outsiders have no rules to follow, many problems have arisen. The State Council held a special meeting for this purpose. Under the premise of determining that the mineral resources belong to the country, it decided to implement a franchise for coalbed methane mining, and the exclusive cooperation of China United Coalbed Methane Co., Ltd., a national company that enjoys the exclusive right of coalbed methane extraction.
It is understood that as the world’s largest producer and consumer of coal, China’s coal is rich in coalbed methane, a companion and symbiotic resource. According to experts' estimation, the shallow CBM resources of 2,000 meters above sea level amount to 30 trillion to 35 trillion cubic meters, which exceeds the amount of conventional natural gas on land, equivalent to 45 billion tons of standard coal. In North China, where the population is concentrated and the economy is relatively developed, CBM resources account for about 62% of the total resources, which to some extent make up for the insufficiency of the distribution of conventional natural gas. The development and utilization of CBM is one of the most realistic and reliable strategic measures for increasing clean energy, reducing natural gas imports, and improving energy supply security.
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