China Open for Oil Business

[Marina Schwarz + 1,576]

So, China's struck deals with nine oil companies to explore for oil and gas in China. A demonstrative gesture or actual opening-up? Here.

[Rasmus Jorgensen + 1,169]

We will know soon enough if anybody finds anything commercially viable. 

[ceo_energemsier + 1,818]

yawn!   If they find anything of commercial value the Chinese State owned companies will take the bigger piece of the pie

[Dan Warnick + 6,100]

China did extensive exploration way back in the 1990's and early 2000's, and they found plenty, but made the decision to buy most of their supply needs from the outside back then.  Oil execs I knew at the time were happy to get the exploration contracts but were disappointed at not being able to exploit their findings.  As far as they could surmise, China was following the U.S. strategy of outside first; inside last.  I can only guess that since the U.S. is moving forward on their own policy shifts to exploit internal oil, China is doing the same once again.  Who knows if they have the same or even similar reasons since China has matured as a nation since those days and has realized strategies of their own.  Right or wrong, of course, remains to be seen.