China’s State Oil and Gas Champions Tested by Turbulent Markets

China's state-owned oil and gas majors are pausing aggressive expansion plans amid market turbulence while maintaining long-term energy-security objectives. Expect restrained upstream capex and fewer large overseas deals near term, which could slow sector growth but preserve strategic reserves and state policy goals.

Analysis

China's state-owned oil and gas majors are pausing aggressive expansion plans amid market turbulence while maintaining long-term energy-security objectives. Expect restrained upstream capex and fewer large overseas deals near term, which could slow sector growth but preserve strategic reserves and state policy goals.