Also from Xinhuanet: “China will adopt new standards to calculate and register its verified oil and natural gas reserves to get accurate data.
The calculation will be based on the Classification of Resources and Reserves of Oil and Natural Gas, a new national standard that was implemented beginning Oct.1, Vice Minister of Land and Resources (MLR) Wang Min said here Thursday.
He said that the calculation will focus on the geological reserves and workable reserves of the country’s oil and natural gas to facilitate their rational utilization and protection. ”
