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REVIEWS ON OVERSEAS EXPLORATION OF CHINESE PETROLEUM COMPANIES UNDER LOW OIL PRICE
GUO Jin-rui, WANG Da-peng, TIAN Na-xin, et al
Resources & Industries
2017, 19 (4):
6-12.
DOI: 10.13776/j.cnki.resourcesindustries.20170728.003
To overcome the impact of low oil price on Chinese petroleum companies`s oversea strategic investment, to prepare for the risks and to improve efficiency in overseas oil exploration and development, this paper analyzes the background of low oil price and its trend, studies the measurements that international companies took for the low oil price, and summarizes the current overseas exploration situation of Chinese petroleum companies and global oil gas resources and trend. Geopolitical gaming and interest conflicts are the major factors in stirring the oil price. A good practice at the low oil price taken by international companies is to optimize assets in pursuit of co-integration effect, to diminish investment and to transfer oil gas business into low cost and low risk domains. This paper presents suggestions for Chinese oil companies against low oil price on controlling cost, adjusting structure, optimizing project allocation and maximizing investment benefits, focusing on the co-integrated effect of existing projects with prospects, weighing the proportion of targets exploration and strategic exploration by appropriately using capital, and acquiring highquality projects under low oil price.
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