China has a 'mega' oilfield that'll never boom

Reuters/China Stringer Network China announced the discovery ofthe Mahu field located within the Junggar Basin of Xinjiang province. The field is estimated to holdbetween 0.52 and1.24 billion tonsof crude oil. Infrastructure in the region is poor so it'll never reach the level where it is economically viable to develop it. 2017 will most likely witness a continuation in the decline of conventional oil discoveries. This year has seen no major onshore discovery, pretty much all significant finds w...