China 's Largest Consumer Of Oil Companies ( Nocs )

The oil and gas industry is expansive and rather complex industry consisting of oil, fossil fuels, natural gas, oil and green energy sources. Combined the above sources make-up 32% of total energy consumed worldwide.

ExxonMobil is identified as one of the world’s leading oil and gas businesses. It manages market commodities and means countrywide. ExxonMobil is entail in “marketing, gas, and oil exploration, transportation and production in roughly 200 nations” (ExxonMobil, 2015). This company furnishes assistance and products under label names such as “Mobil, Esso, and Exxon. ExxonMobil is known as one of the biggest oil industrial installation where a substance is refined in the nation” (ExxonMobil, 2015). This essay discusses ExxonMobil’s strategic initiative from

The chapter by Manabu Shimizu focuses on Japan’s efforts in oil exploration and the country’s future goals in the oil industry. Since Japan imports all of its oil, the “challenge is to establish a long-term, sustainable oil supply” (Shimizu 113). Japan has begun to fund Central Asian oil exploration in the hopes of a big oil market being produced for that region. However, Japan does not intend to import oil from Central Asia, rather they want other regions to do import. By doing so, some of the production pressure is lifted from the Middle East, which is where most of Japan’s oil comes from. At the moment, the Middle East is the main producer of oil for many countries with great power over the market, and Japan hopes to create another market

The largest world supplier oil company is Saudi Aramco. It is the most profitable company on the earth. Since it is the most powerful oil company, it has a great impact on the world economy. As a result, a strong international relationship was built with the Kingdom of Saudi Arabia. In addition, the strong developing of international relationship with other industrial countries resulted in massive contributions to the politics, economy, and many different aspects. In 1933, Saudi government bestowed oil concession to California Arabian Standard Oil Company (Chevron). The main factor for this grant was to explore the oil in the eastern region of the Kingdom of Saudi Arabia. After discovering a huge amount of oil, part of the

Exportation of United States’ crude oil has recently become a major topic of debate due to enhanced oil discovering techniques. These new production and extraction methods have been developed to fully produce reservoirs across the country. Since 1973, the United States’ government has placed rigid restrictions on the exportation of crude oil produced within the country (Johnson). These restrictions have prohibited the sale of U.S. crude oil to foreign markets (with some exceptions). President Richard Nixon proposed these bans under the 1973 Oil Embargo Act (Worstall). This act was used to promote energy security across the U.S. after the “first oil shock” occurred globally (Muffin). Well over 40 years later, the energy sector is still defined by this embargo act. “…it has become an anachronism at a time when the United States is one of the world’s biggest oil producers.” (Johnson) This has led many people to question the validity of the existing restrictions placed on crude oil exports. It has also sparked a substantial push for innovation and reform within the oil industry.

Sinopec International Petroleum belongs to Sinopec Corp., which is one of the largest integrated energy and chemical companies in China. It business mainly covers oil and gas activities. It is China 's largest producer and supplier of refined oil products by annual volume processed and major petrochemical products and its second largest crude oil producer, following Petrochina. In 2007 it was ranked in

There is a large oil gathering station in the outskirts of Edmonton, all the crude oil from oil field and product oil are swallowed by this western’s largest oil station that owned by Enbridge, then after measure them and exports to the United States. Today, although the operations from Enbridge are already all around South America, Africa and other countries, the rise of the emerging Chinese market catches Enbridge’s eyes, and makes the company looks to the distant Asia. This “Northern Gateway project” is a giant investment project uses to develop the Asian market.

Oil prices hike or drop is normally a major concern to researchers, industries as well as the government. Oil majorly affects the operations of all sectors of economy in any nation. From analysis and monitoring of oil prices, it has been observed that oil prices went down from the second half of 2014. This was unexpected because oil prices had stabilized for about four years with each barrel costing 105 US Dollars (Miller 11). According to a research and simulation done by researchers in 2014, there was a prediction speculating oil prices would remain low in 2015 and marginally rise in 2016. However, in 2015 there has been a very sharp decline of oil prices. It is out of this concern that this papers the aims at addressing the following questions.

As Adam Smith intended of the free market economy he designed, the United States must begin to implement like policies in regards to all industries. However, the most vital of these industries that must be liberated for the benefit of our country. Oil industries, in particular, throughout recent years have been victims of harsh rules

After the Industrial Revolution first and second world countries have been heavily reliant on oil. This has led to a total (as of 2014) of

Russia is the second largest oil producer and exporter, and the first largest natural gas exporter , while China is the third largest oil consumer in the world . However, Russia does not like to do the energy trade with China. Free market does not work well in explaining Russia case. There is only one Russia’s pipeline built in August 2009 that goes to China, while all the others go to the west. Due to the highly complementary economic and

Actually, the industry is oligopoly. There are many buyers and few large sellers. Also, they have the power over prices because the nature of product is different and similar. The most important part is that going to this industry and going out from this industry are highly hard. In order to approach the value of $957.5 billion, the value of the North American oil and gas market decreased around 40% in 2009. Many experts expected that the market value in 2014 was forecast to reach the value of $957.5 billion, going up of 45.3% since 2009. Technically, there are Top 4 companies with in the industry in North America such as Chevron, ConocoPhillips, Exxon Mobil Corporation, and Petroleos Mexicanos(PEMEX)

The US oil and gas exploration and production industry consists of about 5,000 companies with combined annual revenue of about $290 billion and is expected to have a high-growth rate over the next two years. Key growth drivers include rising demand for energy (Hoover’s Company Profiles).” The companies involved also deal with many different factors in production, manufacture and distribution; including weighing the different global economic, political and environmental factors that are tied to profit. The fortunes of oil and gas companies are tied to overall supply and demand issues that are reflected in oil and gas prices. Price changes affect industry sectors differently. High prices for oil and natural gas benefit the upstream (exploration and production) companies but hurt the downstream (refiners) in the form of raw material costs. This affects the overall strength and profit of these companies, but many Oil & Gas companies are considered integrated, which means they are involved in all three sectors of the industry. The business diversification between the upstream and the downstream tends to mitigate the effects of oil and gas price fluctuations. Because they are usually more leveraged to the upstream, such companies general benefit from higher prices for oil and natural gas.

Chinese experts estimate that the South China Sea can ultimately yield 130 billion barrels of oil, making it contain more oil than anywhere else in the world with the exception of Saudi Arabia. For this reason, Chinese observers have called the South China Sea “the second Persian Gulf”. China’s state-owned China National Offshore Oil Corporation has invested $20 billion the energy generating resources in the South China Sea and has already taken steps to extract these natural resources. In 2014, China placed the Haiyang Shiyou 981 oil rig in contested waters, near Vietnam. The Chinese oil rig is the first domestically built mobile drilling platform by China, and it covers the area of a football field and stands 449 feet tall. After clashes with Vietnamese vessels, China briefly removed the oil rig, but it was placed back near the Gulf of Tonkin on January 16, 2016. The Vietnamese government strongly protested against the presence of a Chinese oil rig in contested waters that both China and Vietnam claim. The rig is currently in an overlapping area between the Hainan Island (China) continental shelf and Vietnam’s continental shelf. The presence of this oil rig caused worry and has lead to many conflicts. China is also desperate for new sources of energy, as China consumes 10 percent of all oil produced while only producing 1.1 percent. The resources in the South China Sea could relieve China’s dependence on oil coming from the Middle East through

World oil demand is increasing as emerging economies need more energy to increase their living standards. Estimates, shown below, are that by 2030, China and India as emerging markets will import over 70% to 90% of their fossil fuel needs (1) . Coupled to a continued high and growing demand for oil, makes this a robust market for the next 30 years.