Strategies and driving forces behind the internationalisation of China’s oil industry
The aim of this chapter is to examine the strategies and driving forces behind the expansion of overseas activities described in Chapter 5. A key focus for this analysis is the investments made by China’s oil companies in overseas assets, and the degree of convergence or divergence between the interests of China’s government and those of its NOCs. We will argue that the 1990s and possible the early 2000s were characterised by a strong convergence of interests, but that recent years have seen a growing divergence as the government seeks to respond to wider diplomatic challenges, while the NOCs press on with their commercial agendas. At the same time, a number of foreign governments that initially welcomed China’s investments in their oil and gas sectors are tempering their enthusiasm in response to political or commercial concerns.