Fintech PR
Sinopec Discovers Record Amounts of Shale Oil in Its East China Shengli Oilfield
Shengli Oilfield leads exploration breakthroughs with theoretical innovation, stimulates cost reduction and efficiency improvements with technological progress, and boosts both quantity and quality enhancements with equipment upgrades, driving shale oil exploration and development in China to new heights.
ZIBO, China, April 1, 2025 /PRNewswire/ — China Petroleum & Chemical Corporation‘s (HKG: 0386, “Sinopec” or “the Company”) announced the discovery of over 140 million tonnes of proven geological reserves of shale oil with technically recoverable reserves of 11.3599 million tonnes at its Shengli Oilfield’s Jiyang shale oil national demonstration zone in East China’s Shandong province on March 24, 2025. This is the first shale oil field with proven geological reserves of over 100 million tonnes that has been certificated by China’s Ministry of Natural Resources.
Shengli Oilfield has developed advanced automated drilling equipment that extracts efficiently, and explored horizontal well optimization and fast drilling technology, and dense cutting combined seam network volume fracturing technology. The average drilling cycle has been reduced from 133 days to 29.5 days, and the drilling cycle of 6,000-meter wells has reached 17.7 days, and the single well production capacity has continued to set new records.
“Through 150,000 times of indoor experiments, we developed the theory of shale oil enrichment in continental fault lake basins, reshaping the traditional common understanding that shale oil can only be enriched and mobilized when its maturity is higher than 0.9%,” shared Liu Huimin, Vice President and Chief Geologist of Sinopec Shengli Oilfield Branch. “With the support of this theory, the amount of shale oil resources in Jiyang has tripled after re-evaluation.”
Shengli Oilfield has tackled challenges of high temperature, pressure, and leakage in shale oil development. By advancing reserve-fracture-pressure theories, developing full-cycle 3D technologies, and building an integrated geological engineering platform, it expanded shale oil development from three to seven layers, addressing extraction efficiency and maximizing resource recovery.
Sun Yongzhuang, Assistant to President of Sinopec Group and Managing Director of Shengli Petroleum Administration Bureau Co., said estimated shale oil resources in Shengli Oilfield have reached 10.5 billion tonnes, equivalent to the conventional oil and gas resources recovered during the past 60 years in China. “After more than 10 years of continuous research and innovative breakthroughs, Shengli Oilfield is expected to add 80 million tonnes of proven reserves this year through the integrated promotion of exploration and development,” Mr. Sun said.
Sinopec is ramping up its shale oil exploration and development efforts, achieving key breakthroughs in multiple areas. In January 2021, the Company tested a high-yield shale oil and gas well at the Fuling shale gas field in Chongqing, with shale oil production surpassing 30,000 tonnes for the first time in 2024. By December 2021, Sinopec identified a favorable area of 420 square kilometers in the Qintong Depression of the Northern Jiangsu Basin, with shale oil resources totaling 350 million tonnes. In July 2022, a Northern Jiangsu Basin well yielded more than 30 tonnes of oil and 1,500 cubic meters of natural gas daily, activating 1.1 billion tonnes of shale oil resources. Sinopec’s 2024 shale oil production reached 705,000 tonnes, up 308,000 tons year-over-year.
Jia Chengzao, an Academician with the Chinese Academy of Sciences and an expert in petroleum and structural geology, said shale oil is a key resource for boosting and stabilizing domestic crude oil production, commenting, “Proven reserves are the core indicator supporting current production. In January, the Ministry of Natural Resources issued specifications for estimating oil reserves in shale formations, marking a new stage of normalization and standardization in China’s shale oil resource management.”
For more information, please visit http://www.sinopec.com/listco/en/.
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WINDSOR, Conn., April 9, 2025 /PRNewswire/ — SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that T. Rowe Price, a global investment management firm, has extended its transfer agency agreement with SS&C Global Investor and Distribution Solutions (GIDS) for its U.K. fund range. SS&C will provide transfer agency services for T. Rowe’s open-ended investment company (OEIC) funds, which currently manage approximately £1.5 billion in assets.
“SS&C’s distribution solutions have been integral in helping us deliver best-in-class technology and servicing in the U.K.,” said Denise Thomas, Chief Operating Officer, EMEA for T. Rowe Price. “The team’s knowledge and expertise in the market, along with the simplicity and stability of the platform’s trading and settlement functionality, make SS&C stand out from the competition.”
SS&C administers 21 of T. Rowe’s active funds, with the register focused primarily on distributors and nominees. Services include straight-through processing of trades and settlement support, as well as comprehensive reporting via SS&C’s secure distributor portal.
“We are excited to continue our partnership with T. Rowe Price,” said Damien Barry, head of SS&C GIDS, EMEA. “We are dedicated to providing cutting-edge technology and expertise to support our partners’ growth in the U.K. and globally. We look forward to working closely with T. Rowe Price on solutions to evolving market needs.”
About T. Rowe Price
Founded in 1937, T. Rowe Price (NASDAQ – GS: TROW) helps individuals and institutions around the world achieve their long-term investment goals. As a large global asset management company known for investment excellence, retirement leadership, and independent proprietary research, the firm is built on a culture of integrity that puts client interests first. Clients rely on the award-winning firm for its retirement expertise and active management of equity, fixed income, alternatives, and multi-asset investment capabilities. T. Rowe Price serves millions of clients globally and manages US $1.61 trillion in assets under management as of December 31, 2024. About two-thirds of the assets under management are retirement-related.
About SS&C Technologies
SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. More than 22,000 financial services and healthcare organizations, from the world’s largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.
Additional information about
SS&C (Nasdaq: SSNC) is available at www.ssctech.com.
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Fintech PR
The VIP Advantage: Bybit Partners with SoSoValue to Issue VIP-Exclusive Daily Industry Report
DUBAI, UAE, April 9, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced a timely new VIP benefit to help traders navigate macro market headwinds. Starting now, Bybit VIPs will access an insight-driven advantage: a tailor-made daily industry report released daily by Bybit and SoSoValue, the industry-leading investment research powerhouse trusted for its advanced AI.
SoSoValue is an AI-powered cryptocurrency research and investment platform that provides real-time market analytics, portfolio management tools, and automated investment strategies for users. Delivered exclusively to Bybit VIPs, the Bybit Industry Report is the first joint report of its kind for SoSoValue and Bybit, combining market insights and Bybit-exclusive news, and offering readers the edge they need to implement and adjust investment strategies.
The six-part report covers technical and community aspects to capture the nuances and macroeconomic climate beyond the crypto space:
- Crypto Breaking News: Must-read crypto news for traders
- Daily Selection: Trending tokens and price movements
- Bybit New Listing: New listings on Bybit
- Today’s News: From trade war to rate cuts—headlines that move markets
- Price Technical Analysis: A deep dive into price mechanisms
- Community Sentiments: Feeling the pulse of investors, communities, and traders
“This partnership sets a new benchmark for the industry. By combining SoSoValue’s AI-powered intelligence with our Spot’s latest product Lens, a 24/7 always-on trading concierge, we are delivering the first-ever, full-suite on-chain data service—live and exclusively for our VIPs. It is not just a collaboration; it is a defining moment for how serious players access on-chain intelligence,” said Emily Bao, Head of Spot and Web3 at Bybit.
The daily report equips traders with data-driven foresight and trendspotting superpower, helping them sail through the rapids of the crypto space with confidence: Bybit x SoSoValue Daily Report: Your key to analyzing market trends
At Bybit, the VIP advantage doesn’t end here. Curated to a comprehensive suite of services and top-of-the-range VIP experience, the program offers access to generous rewards programs, early bird perks, bespoke customer support, and exclusive events.
The Bybit VIP badge entitles traders unparalleled benefits, from higher trading limits to zero fees and rebates that help traders save long-term. Users may find out more from the program: Bybit VIP | Crypto Meets Elite.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
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DUBAI, UAE, April 9, 2025 /PRNewswire/ — On April 7, MEE2025 grandly opened at the Dubai World Trade Center in the United Arab Emirates. CHG EnSOL Renewable Technology Co., Ltd., a subsidiary of Central New Energy Holding Group (01735.HK), made its appearance at booth H6.F23, joining global industry elites to discuss the future of green energy.
The company showcased a variety of products and green solutions that captured the attention of guests. Central New Energy Holding Group’s “Gemini” series N-type TOPCon cells and CHGMN series ultra-high efficiency TOPCon photovoltaic modules boast ultra-high conversion efficiency and excellent adaptability to extreme environments, making them suitable for the climate in the Middle East with abundant sunshine, high temperatures, little rain, and large temperature differences between day and night. The company’s comprehensive green solution integrating source, grid, load, and storage will also effectively assist traditional high-energy-consuming enterprises in the Middle East to accelerate their energy transition.
In 2023, Yu Zhuyun, Chairman of Central New Energy Holding Group, was invited to participate in COP28 held in Dubai. As a representative of Chinese entrepreneurs, he solemnly stated, “In the next five years, Central New Energy Holding Group plans to build 100 zero-carbon industrial parks with global partners, achieving the goal of reducing global carbon emissions by 800 million tons annually.”
In the face of the global energy revolution, the company has proactively joined overseas market competition, actively researching and developing various green environmental protection technology routes such as BC cells, perovskite/crystalline silicon tandem cells, and green fuels like Hydrogen-Ammonia-Alcohol-Oil blend. Its products are sold overseas, and it has already started cooperation with customers in Europe, Southeast Asia, and other regions.
In the future, the company will be based in countries along the “Belt and Road” such as the United Arab Emirates and Saudi Arabia, while simultaneously radiating its layout to regions like Asia-Pacific, Europe, and the Americas to vigorously expand its international business. It will contribute the strength of Chinese enterprises to building the “Green Silk Road,” promoting the transformation of the Middle East from a “petroleum economy” to a “green economy”, and creating a new blueprint for global energy.
View original content:https://www.prnewswire.co.uk/news-releases/central-new-energy-holding-group-01735hk-makes-grand-appearance-at-mee2025-302424425.html
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