Continent ripe for exploration

Shandong-based Kerui Petroleum finds a wealth of opportunities in South America, Zhong Nan reports in Dongying, Shandong.

For many private-sector Chinese companies, South America offers a wealth of potential and a less competitive environment. Energy machinery producer Shandong Kerui Petroleum Equipment Co is among those companies.

Kerui Petroleum is contemplating the construction of a $500 million oil equipment plant on the continent in the next three years.