China’s quest to secure natural resources to feed surging domestic demand for energy has become one of the dominant themes of international trade in recent years.
But the country’s national oil companies have gone into overdrive this year, eclipsing their international rivals and accounting for one-fifth of all deal activity in the upstream oil and gas industry so far.
“For China, M&A is a force of the country’s supply and demand reality,” says one long-term industry observer.
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