Chinese companies pursue overseas oil and gas assets

China in the 1990s embarked on a path of overseas upstream oil and gas investments and intensified the activities during the latter part of the decade. The start of the new millennium marked a new era in which Chinese state oil companies began an all-out effort to expand overseas, strongly favored and encouraged by the Chinese government. The Chinese state oil companies are taking advantage of the government’s growing concern over energy security to realize their desires to have larger business operations around the world. “Going out” has become part of the overall investment strategy for every state oil company in China.This article reviews China’s overseas oil an...

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