Update on Overseas Investments by China's National Oil Companies
Achievements and Challenges since 2011
Chinese NOCs first ventured overseas to invest in oil and gas production more than
20 years ago. Today, they have emerged to become international players with activities
spreading across more than 40 countries and producing 2.5 million barrels of oil equivalent
per day (mboe/d) of oil and gas outside of China. Chinese companies have contributed
much-needed investments in global oil and gas production.
This report provides an update on overseas activity by China’s National Oil Companies
(NOCs) between 2011 and 2013 and is a follow-up publication of IEA’s previous report
in 2011, Overseas Investments by Chinese National Oil Companies: Assessing the Drivers
and Impacts. It aims to examine the trends exhibited by investments made by Chinese
NOCs and the risks and challenges they face today and raised the question if China’s
long standing non-interference foreign policy could still be valid given China’s worldwide
commercial interests, including those of the NOCs’.