中國大陸石油企業海外投資策略研究

The Study of Overseas Investment Strategies of the Chinese Oil Companies

滕兆嘉(Chao-Chia Teng)

指導教授 ： 郭建中

共同指導教授 ： 范錦明

淡江大學/國際研究學院/中國大陸研究所碩士在職專班/碩士(2013年)

https://doi.org/10.6846/TKU.2013.01282

摘要

中國大陸石油供需不平衡，國內石油儲量少，消費量高，長期依賴海外石油進口支持國內經濟發展所需能量，因而衍生出油源取得、石油儲備、航道運輸等相關能源戰略安全問題。對此，中國大陸訂定「21世紀石油戰略」，除加緊國內石油儲備建設，增建石油儲備基地，並實施石油「多元化」與「走出去」戰略，鼓勵石油企業赴海外投資尋求國際油氣合作。
目前中國大陸石油「多元化」、「走出去」戰略執行成果主要包括：與俄羅斯、哈薩克及緬甸等國家建成輸油、輸氣管道，透過管道連結，將油氣直接輸送至中國大陸南北各地，避開海上運輸風險；另中國大陸透過融資誘因，與多個拉美及非洲國家建立石油合作開採協議，確保石油長期穩定供應。惟中國大陸發展石油國際合作亦面臨重重阻礙，包括投資目標國的政治風險、國際企業競爭等；也須處理國內管理體系紊亂、對外投資申請手續繁複等問題。
本文係以分析中國大陸石油戰略發展為基礎，探討在國內石油相對缺乏情況下，中國大陸石油企業海外布局方向為何？在國際能源競爭環境激烈狀況下，中國大陸石油企業從事海外投資將會遭遇何種阻礙？並檢視在石油「走出去」戰略指導下，中國大陸石油企業海外投資具體成果。

關鍵字

能源戰略 ； 走出去 ； 海外投資 ； 石油政策

並列摘要

China has to rely on imported oil to support its economic growth, since it has been suffered from the imbalance of oil supply and demand, low oil reserves, and high consumption of oil. This situation raises many strategic questions, for China, of energy security, such as where to get the oil, how to store more oil, and how to reduce the risk of imported oil transportation, etc. China made the “Oil Strategy of the 21st century” in 2002, which outlined the oil policies of “Diversification” and “Going Out,” to speed up the construction of oil storage facilities, establish more oil storage bases, encourage oil enterprises to conduct overseas investment and seek more cooperation with oil-rich countries.
According to the guidance of “Diversification” and “Going Out,” China built up oil and gas pipes with Russia, Kazakhstan, and Myanmar. By those pipe lines, oil and gas are distributed to the southeastern and northeastern parts of China, and by this way, China could avoid the risk of transporting by sea lanes. China also worked on setting up cooperation of oil exploration with Latin American and African countries, and offered financial support in return for long-term and stable oil supply. However, there are many difficulties for China in developing oil cooperation with other countries, including political risk of target countries, competition with other international companies, and so on. Furthermore, disordered management system, complicated application process also set obstacles to Chinese oil companies when doing overseas investment.
This paper is based on the analysis of Chinese oil strategies to figure out the main targets of overseas investment of Chinese oil companies with the shortage of domestic oil production, and the difficulties that Chinese oil companies encountered while conducting overseas investment under the violent international competition, and the concrete achievement of overseas investment of Chinese oil companies under the guidance of “Going out” policy.

並列關鍵字

strategy of energy ； going-out ； overseas investment ； oil policy

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