China stepping up foreign E P investment as oil imports soar

Journal Article · Mon May 09 04:00:00 EDT 1994 · Oil and Gas Journal; (United States)

OSTI ID:7031801

China has stepped up its involvement in the international upstream oil scene after entering it just a few years ago. Faced with soaring domestic demand for oil and essentially stagnant crude oil production, China is casting about for new sources of crude outside its borders. Although these first steps are modest by the standards of multinational major petroleum companies, it marks China's recognition that its status as a permanent net oil importer is inevitable and probably irreversible. China is expected to become a net oil importer as early as this year and is likely to remain on for the foreseeable future. That increases the urgency for China's state owned companies to participate in foreign joint ventures in exploration and productions. The paper discusses China's oil shortfall, domestic crude supplies, foreign joint ventures, China's overseas option, international approaches, and possible pitfalls.

• OSTI ID: 7031801
• Journal Information: Oil and Gas Journal; (United States), Journal Name: Oil and Gas Journal; (United States) Vol. 92:19; ISSN OIGJAV; ISSN 0030-1388
• Country of Publication: United States
• Language: English

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29 ENERGY PLANNING, POLICY, AND ECONOMY
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ASIA
CHINA
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PETROLEUM
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