Private firms win shale gas exploration bids

The Ministry of Land and Resources (MLR) announced the results of the second round of public tender for shale gas exploration rights Thursday. Two private companies have nudged into the rank of winners.

The second round of tender auctioned off exploration rights to 19 shale gas blocks. The threshold for investment has been lowered in the second round, which allowed private companies to participate in the bidding process.

Two privately owned companies, one from North China's Shanxi Province and one from Beijing, have won the rights to two shale gas blocks in Southwest China's Guizhou Province, according to the MLR.