Briefly

Bohai Oilfield has a new deep well

Bohai Oilfield, China's largest offshore crude oil production base, has completed drilling of a new 6,088-meter-deep well, China National Offshore Oil Corp Tianjin branch said. The well, Bohai 19-6-D1, will be used for oil and gas recovery of the Bozhong 19-6 Condensate Gas Field, the first gas field with proven reserves of over 100 billion cubic meters of natural gas in the Bohai Sea.

PBOC adds liquidity via reverse repos

The People's Bank of China, China's central bank, conducted 250 billion yuan ($35.2 billion) of seven-day reverse repos at an interest rate of 1.8 percent on Wednesday. A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

China Daily - Xinhua