TITLE:
Evaluating China’s Oil Security and Overseas Oil Investment
AUTHORS:
Yuhua Zheng
KEYWORDS:
Oil Security, Oil Demand and Supply, Overseas Oil Investment
JOURNAL NAME:
American Journal of Industrial and Business Management,
Vol.7 No.8,
August
17,
2017
ABSTRACT: Oil
security is the major concern of China’s energy policy due to the no effective
substitute nature of oil and the heavy reliance on internationally imported
crude oil. In this paper, a synthesized indicator system was established to
analyze China’s oil security from four aspects and Chinese government’s oil
security policies were also discussed. From this analysis, we concluded that
the main risk in China’s oil security was the gaps between domestic oil supply
and demand, and the main means that Chinese government employed on securing oil
safety was oil importing diversification, improving transnational pipeline
conditions, and enhancing stable domestic oil production. Furthermore, the
multiple roles of overseas equity oil production from Chinese National Oil
Companies in securing oil safety were discussed and the possible measures and
policies on further improving oil safety were also suggested.