Chinese private-sector oil and gas companies’overseas spending shows little sign of slowing. Unlike their larger state-run peers,private-sector firms expect the long-discussed relaxation of China’s crude import regime will ensure the future profitability of their invest-ments.A combined$1.6bn in overseas spending was agreed between November and February by nine companies(see table).This follows investment totalling$2.3bn by eight pri-vate-sector companies in June-October.
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