Why China needs control over the oil and gas sector
Edited by Rhod Mackenzie / 2015-10-13 08:25:32
Since 2009, China has played a much more active role in its desire to dominate in the sector of international oil contracts. 6 years ago, Saudi Arabia for the first time exported more to China than to the United States. At the same time, then the first major investment in the refining industry were made.
But China is not going to stop there: in 2011-2012, it actively participated in the development of Canada's oil assets.
When it comes to the energy industry of China, we can talk about the three major state-owned companies.
China National Offshore Oil Company (CNOOC) is an oil and gas producer, PetroChina is oil producing company, Sinopec is primarily engaged in the processing of energy raw materials.
