APPENDIX Chart 1: History of China's Petroleum Industry 1950: The General Bureau of Petroleum Administration was established, subordinate to the Fuel Industry Ministry FIM and in charge
Trang 1APPENDIX
Chart 1: History of China's Petroleum Industry
1950: The General Bureau of Petroleum Administration was
established, subordinate to the Fuel Industry Ministry (FIM) and
in charge of construction and production for China's petroleum
industry
July 1955: The Petroleum Industry Ministry (PIM) was
established
June 1970: The three ministries of the petroleum, coal and
chemical industries were incorporated into Fuel and Chemical
Industry Ministry (FCIM)
February 1975: The Fuel and Chemical Industry Ministry (FCIM)
was dissolved and Petroleum and Chemical Industry Ministry
(PCIM) was established
February 1982: China National Offshore Oil Corporation
March 1978: The Petroleum and Chemical Industry Ministry
(PCIM) was dissolved, and the Petroleum Industry Ministry (PIM)
Petrochemical Corporation (Sinopec)
September 1988: China National Petroleum Corporation (CNPC)
was established on the basis of the former Petroleum Industry
Ministry The newly founded CNPC served as the State oil
company, focusing on upstream operations while also assuming
some governmental functions and responsibilities
July 1998: In accordance with reforms approved by the First Session of the Ninth National People's Congress, CNPC and Sinopec were restructured into integrated oil companies
Source: According to CNPC, The History of CNPC, with changes See:
http://www.cnpc.com.cn/english/gsgk/lsyds_cnpcls.htm and http://www.cnpc.com.cn/gsgk/lsyds.htm#07
Table 1 Selected Investment by Chinese Oil Companies in Overseas Oil Exploration and Production
Coutry Date Company Project
Value (US$ million)
Algeria 2002 Sinopec 75% stake in the Zarzatine field 394
Trang 2Australia 2003 CNOOC assets acquisition agreement on Australian Northwest
Continental Shelf Natural Gas Project 348 Azerbajan 2002 CNPC 30% stake in the Kursangi and Karabagli oil fields from the
European Bank for reconstruction and development 52 Canada 1991 CNPC UN-sponsored oil sands development
Canada 1993 CNPC
Equity stake in North Twining oil field in Alberta, Saskatchewan, Canada This field produced the first barrel of overseas crude in China's history
Ecuador 2003 CNPC CNPC Amazonia purchased rights to Block 11 from Lumbaqui
Oil, subsidiary of Romania's Rompetrol Indonesia 1993 CNOOC 32.58% stake in a block in the Straits of Malacca from ARCO Indonesia 1995 CNOOC Additional 6.93% stake in a in a block in the Straits of Malacca Indonesia 2002 CNOOC
Ltd Assets of Repsol-YPF 585 Indonesia 2002 CNOOC purchased an equivalent 12.5% stake of Tangguh Liquefied
Natural Gas Project in total from BP 275 Indonesia 2002 PetroChina Assets of Devon Energy 262
Indonesia 2003 PetroChina
Half the assets of Amerada Hess Indonesia Holdings Co
Amerada Hess has a 30% stake in the Jabun Block on Sumatra, which has proven reserves of 267 million barrels of oil
equivalent in six oil and gas fields
82
Iran 2001 Sinopec
Production sharing contract with National Iranian Oil Company for a joint exploration and develoment of an oil and gas block in the Zavareh-Kanshan region Sinopec is the operator
13
Iraq 1997 CNPC Production sharing contract to develop al-Ahdab field 1200 Kazakhstan 1997 CNPC 60.2% stake in Aktyubinsk Oil Co 4300 Kazakhstan 1997 CNPC Contract to develop Uzen oil field 1300 Kazakhstan 2003 CNPC Additional 25.12% stake in Aktyubinsk Oil Co 150.16 Kazakhstan 2003 CNPC purchased 35% stake in the North Buzachi oil field from Nimr
Petroleum (Saudi Arabia) Myanmar 2001 CNPC Agreement for enhanced oil recovery work at the Pyay (Prome)
oil field CNPC will receive 40% of the output Nigeria 1997 CNPC Agreement for exploration of the Chad Basin with the Nigerian
National Petroleum Corporation Nigeria 1998 CNPC Two exploration blocks in the Niger River delta Papua New
Guinea
1994
1995 CNPC
Two exploration blocks offshore of Gulf Province in 1994 (Block 160) and 1995 (Block Kamusi) Peru 1993 CNPC Operation rights for enhanced oil recovery in the Talara oil field 25
Trang 3Sudan 1995 CNPC Production sharing contract for Block 6 in the Muglad Basin Sudan 1997 CNPC Production sharing contract for Blocks 1/2/4 in the Muglad
Sudan 2000 CNPC 23% stake in Block 3/7 in the Muglad Basin Thailand 1993 CNPC Production sharing contract to develop the Banya block Venezuela 1997 CNPC Intecampo Norte and Caracoles blocks, enhanced oil recovery
Yemen 2001 Sinopec Agreement with the German firm Preussag for risk exploration
Yemen 2003 Sinopec
Memorandum of understanding with the Yemeni Oil Mining Ministry to explore for oil in the Amakeen region of Shabwah Province
10
Map 1 Russian Far Eastern Oil Pipelines
Source: Adapted from “The oil wars: in the pipeline,” The Economist, May 1–7, 2004
Trang 4Map 2 Sino-Kazakhstan Oil Pipeline
Source: F William Engdahl, “China Lays down Gauntlet in Energy War: the geopolitics of oil,
Central Asia and the United States,” Asian Times, 22 December 2005
Chart 2 Roles played by Government & NOC and the Resulted Approach
Government's
Primary Role Internal Stabilizer
Economic Efficiency Promoter
Internal Stabilizer both roles
Approach of Oil
Pricing Reform
State -controlled Approach (SCA)
Market-dominated Approach
Mixed Approach
NOC's Primary Role
State Policy &
Social Obligation Undertaker
State Policy
& Social Obligation Undertaker (SPSOU) both roles
Trang 5
Project Decision Stage
Negotiation &
Implement Stage Government's
Primary Role Internal Stabilizer
Economic Efficiency Promoter
Approach in
NOC's Primary Role SPSOU Market Actor
1997 striving for the pipeline
1999 shelving the pipeline
2003 restart the pipeline
Government's
Primary Role Internal Stabilizer
Economic Efficiency Promoter Internal Stabilizer
Approach in
Sino-Kazakhstan Oil
NOC's Primary Role SPSOU Market Actor Market Actor
1st stage:
Impassive to Russia's proposal 2nd stage:
3rd stage: Japan's involvement since
2002
Government's
Primary Role
Economic Efficiency Promoter Internal Stabilizer Internal Stabilizer
Approach in Russian
NOC's Primary Role Market Actor Market Actor SPSOU
Government's Primary Role
Economic Efficiency Promoter
Approach in Acquisition
NOC's Primary Role Market Actor