Key words: Government policy, guaranty of energy security, net importer of oil, strategic oil reserves, diversification of oil and gas supply routes, acquisition of foreign technology and companies.
The article is dedicated to certain aspects of the policy of the Government of the Peoples’ Republic of China in the sphere of oil. It describes the main achievements of the country in developing its oil and gas fields, analyzes the problems impacting on the growing dependence of China on oil imports and threatening the country’s energy security. Also treated are the key measures directed towards guarantying energy security, such as building up strategic oil reserves, creating an international market for oil futures, conditions for gas liquefaction and transportation. The Article summarizes Chinese experiences in diversifying oil and gas supply routes to improve the security of supply and reduce the dependency on the throughput capacity of the Strait of Malacca, as well as those in attracting private investment to the oil industry and acquiring foreign technology and assets. The Chinese policy “Loans in exchange for resources” is analyzed using concrete examples.
References
1. 500 ranking; company annual reports, Fortune Global, 2010.
2. Historical monthly refining margins (New Methodology), URL: http://omrpublic.iea.org.
