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Learning from failure: China's overseas oil investments
Lernen aus Fehlern: Chinas Übersee-Ölinvestitionen
[journal article]
Abstract Thirsty for oil and other raw materials needed to fuel its breakneck development,
China is funnelling money and manpower into an expanding number of countries in order
to secure access to natural resources. This effort has successfully increased Chinese
oil assets overseas but i... view more
Thirsty for oil and other raw materials needed to fuel its breakneck development,
China is funnelling money and manpower into an expanding number of countries in order
to secure access to natural resources. This effort has successfully increased Chinese
oil assets overseas but it has also exposed Beijing and Chinese national oil companies
(NOCs) to significant risks. The present paper focuses on one type of risk – political
risk – and how it has affected China’s global quest for oil since 1993. It starts
with a brief overview of political risk. It then looks at political risk management
as applied to the oil industry in general. The paper continues with a discussion of
the political risk management of Chinese national oil companies over time. This includes
a concise exam-ination of several instances in which the interests of Chinese NOCs
have been undermined due to political risk and the shortcomings in the approaches
of Chinese NOCs to political risk. Recent developments suggest that Chinese NOCs are
learning from these mistakes and adjusting their strategies accordingly. Although
progress toward these readjust-ments has been made, China’s own socio-political context
is still hampering the ability of Chinese NOCs to deal with on-the-ground realities
that are clearly much more unstable than China’s own.... view less
Keywords
China; international relations; crude oil; investment; resources; public policy; risk; global player; influence; learning process; political decision; Far East
Classification
Economic Sectors
International Relations, International Politics, Foreign Affairs, Development Policy
Method
applied research; descriptive study; empirical; quantitative empirical
Free Keywords
NOCs
Document language
English
Publication Year
2013
Page/Pages
p. 131-165
Journal
Journal of Current Chinese Affairs, 42 (2013) 1
Issue topic
Chinese impacts and impacting China
ISSN
1868-4874
Status
Published Version; peer reviewed
Licence
Creative Commons - Attribution-Noncommercial-No Derivative Works