Chinese demand for energy pumps up M&A share (Page 21)
Chinese companies have spent $24.6bn on overseas oil and gas acquisitions so far this year, accounting for a fifth of deal activity in the sector over the period. China’s energy demand has doubled since 2000 and the country overtook the US to become the largest energy user this summer, according to the IEA.
China’s oil majors come of age in rush for M&A (Page 27)
China’s quest to secure natural resources to feed surging domestic demand for energy has become one of the dominant themes of international trade in recent years. One emerging trend from recent deals is a willingness among all the companies to embrace partnerships with their international peers, perhaps in recognition of the increasing competition for what is a limited number of attractive opportunities.