Strategies for Internationalization of Chinese State-Owned Oil and Gas Companies During the COVID-19 Pandemic

Abstract

The article is devoted to the problems of strategic management of international expansion of Chinese state-owned oil and gas companies during the coronavirus pandemic. A brief description of Chinese stateowned oil and gas companies (OGCs), the main directions and formats of their internationalization is given; an analysis of the impact of crisis phenomena in the global economy associated with the pandemic on the market of hydrocarbons and petroleum products is carried out. The features of strategic management of the international expansion of the Chinese OGCs in the conditions of the COVID-19 crisis are analyzed. The prospects for the development of the Chinese oil and gas business in the world market are evaluated. The conducted research has shown that the largest Chinese oil and gas companies are pursuing an aggressive marketing policy in foreign markets, which allows not only to ensure large supplies of hydrocarbon raw materials to China, but also to sell significant volumes of products abroad with the help of foreign partners. Such a policy corresponds to the vector of the Chinese leadership’s foreign policy, which is focused on achieving a balance in international relations and actively countering pressure from the United States. In the context of the COVID-19 crisis, the Chinese oil and gas business in the international arena faces not only new risks and challenges, but also receives a number of unique opportunities.