Honghua Group Secures Major Shale Oil Contract

Honghua Group (HK:0196) has released an update.

Honghua Group Limited has secured a two-year shale oil fracturing service contract valued at approximately RMB580 million, marking a significant advancement in their electric-driven technology for shale oil development. This contract highlights the growing demand for shale oil as traditional resources dwindle and underscores Honghua’s competitive edge in providing efficient and environmentally friendly fracturing services. This milestone not only solidifies Honghua’s market presence but also reflects the company’s commitment to innovation in unconventional oil and gas exploration.

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