The amount of overseas mergers and acquisitions by Chinese oil companies is increasing

The wind of BP's acquisition of Irakrumai oil field has just passed, PetroChina again outgoing acquisition news ——— in Friday, the NDRC issued a notice that China Petroleum International Co., Ltd. to acquire the new Japanese Petroleum Osaka refinery part of the equity project approved in June this year, PetroChina will acquire 49% of the stake in Osaka refinery. The acquisition, although not broken record, the industry attaches great importance to ——— Chinese oil companies have set off a new wave of overseas mergers and acquisitions ——— according to statistics, in the last one months, PetroChina, Sinopec reached the amount of the acquisition agreement of about 8.2 billion U.S. dollars, the amount of potential agreement reached more than 22.6 billion U.S. dollars,　　This does not include gains from winning bids and other avenues. From upstream to downstream, this is the second overseas merger of PetroChina this year in the downstream refining business, following the takeover bid for Singapore oil Company in May. PetroChina's short board in refining business is mending, and its internationalization strategy of "walking on the legs" is becoming more and more prominent.　　Although the merger will not be too much for PetroChina to improve its refining capacity, experts agree: this cooperation between PetroChina and New Japan oil is the largest cooperation project in recent years between China and Japan, and the first joint venture between China and Japan to form oil refining company.　　The new Japanese oil project is only the tip of the iceberg, PetroChina will also move: it is reported that CNPC plans to spend 14.5 billion of dollars to buy Spanish YPF company Argentine assets of 75% of the stake, once successful, this will become China's largest ever overseas mergers and acquisitions. The reporter looked up the pace of PetroChina's "going out" this year, indeed very frequent: in February, 499 million Canadian dollar acquisition of Canadian oil and gas company, April completed the Mangesh set of oil and gas company's total equity acquisition, completed in June to 1.02 billion U.S. dollars to acquire 45.51% shares of Singapore Oil Company　　July acquired a 49% stake in the New Japan Petroleum Osaka Refinery ... More and more the amount of the reporter learned that the NDRC has not disclosed the amount of PetroChina's acquisition, but since the first half of the year, China's oil companies have "gone out" very smoothly, including Sinopec spent 7.2 billion of billions of dollars in the purchase of Swiss-Dartmouth, China's oil companies in less than six months the number of successful mergers and acquisitions of up to 7, partners from Asia to the Middle East and even Europe,　　"Footprints" and "paces" are the most in recent years. Zhou, a researcher at the National Development and Reform Commission's Energy Research Institute, said the financial crisis had made many corporate earnings difficult to maintain and that lower oil assets were the main reason for a series of recent moves by Chinese oil companies to accelerate overseas mergers and acquisitions. Zhou said: "The developed countries to acquire better conditions, relatively stable economy, legal procedures are relatively sound, the past unwilling to sell to Chinese enterprises, set up a variety of obstacles, is now willing to sell, for Chinese enterprises is an opportunity." Dong Xiucheng, deputy Dean of the College of Business Administration at PetroChina University, also said that frequent overseas mergers and acquisitions are not only a counting, but also a safeguard for national energy security. "Only by acquiring more energy from upstream can we withstand the rapid fluctuations in international energy prices," he said.and stabilize domestic energy prices. (Reporter Li Xiaoli intern Zhang Zhen)