Chinese Stated-owned Oil Companies in the U.S.

Abstract

Abstract. This article examines the cases of Chinese state-owned oil companies in the U.S., including PetroChina, Sinopec and China National Offshore Oil Corporation (CNOOC). The author provides novel explanations why they failed in the U.S. market. With detailed analyses, the author comes to conclude that the failures of Chinese state-owned oil companies were caused by three major barriers, including CFIUS, Anti-China interest groups of U.S. Congress and the cultural differences between relation-based society and rule-based society.