Growth Strategies Case Study

CNOOC: Growth Strategies of the Chinese Oil Giant

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Abstract:

In early 2005, CNOOC (Chinese National Offshore Oil Corporation) had turned the heads of the global oil league by bidding for Unocal, the seventh largest US oil and gas exploration company. CNOOC was incorporated in 1982 with 50 billion Renminbi to take up offshore explorations both independently and in collaboration with foreign companies. CNOOC later diversified into natural gas explorations, technical services, chemical and fertiliser production, power generation and financial services. In the process, CNOOC has attained market capitalisation of more than US$17 billion, with proven oil reserves of two trillion barrels of oil equivalent across the globe, which will ensure a production of 250 million barrels of oil equivalent till 2010.

Pedagogical Objectives:

• To highlight the strategies adopted by CNOOC, to become one of the major players in the Chinese oil industry
• To discuss the strategies that the company must adopt to cement its place in the global oil league.

Keywords : Global oil and gas exploration industry; Chinese oil industry; Growth Strategies Case Study; Oil companies in China; Growth of oil consumption in China; Oilfields in China; Chinese National Offshore Oil Corporation’s (CNOOC) bid for Unocal; Acquisitions of CNOOC; Largest oil consuming countries in the world; National champions in China; Sinopec; Petrochina

Contents : 
CNOOC and the Chinese Oil Industry
CNOOC: Growth on Domestic and Global Front
Challenges Ahead
Largest Oil Consuming Countries in the World