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MercoPress, en Español

Montevideo, November 15th 2024 - 04:45 UTC

Tag: China National Offshore Oil Company (CNOOC)

  • Thursday, October 15th 2015 - 20:16 UTC

    China to continue expanding its influence in the oil and gas sector

    China has three major state owned oil companies: CNOOC, oil and gas producer; PetroChina and Sinopec, which is primarily a refining company.

    Since 2009, China has been taking a much more active role in its pursuit of international oil contracts. In 2009, for the first time, Saudi Arabia exported more of its oil to China than it did to the US. China also made large investments in Saudi Arabia's oil refining industry as well. But China's oil investments didn't stop there; they also pursued oil producing Canadian assets in 2011/12.