Isaac Scientific Publishing
Journal of Advances in Economics and Finance
JAEF > Volume 2, Number 2, May 2017

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

Download PDF  (360.4 KB)PP. 67-82,  Pub. Date:May 17, 2017
DOI: 10.22606/jaef.2017.22001

Author(s)
Shiwei Jiang
Affiliation(s)
Old Dominion University
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.
Keywords
Chinese state companies, U.S. market, oil industry
References
  • [1]  Aoki, Masahiko. The Role of Government in East Asian Economic Development: Comparative Institutional Analysis. Oxford: Oxford University Press, 1998.
  • [2]  Balloon, Anthony, Crocker, Thomas and Shrimp, Eric. “Shuanghui Wins CFIUS Approval of Smithfield Acquisition: Company's Careful Approach to U.S. Government Validated.” Alston & Bird LLP, September 2013.
  • [3]  Cary, Eve. “Reforming China's State-owned Enterprises,” The Diplomat, accessed on August 18, 2014, http://thediplomat.com/2013/06/reforming-chinas-state-owned-enterprises/
  • [4]  Jackson, James. “The Committee on Foreign Investment in the United States (CFIUS),” Congressional Research Service, March 6, 2014.
  • [5]  Jackson, James K. Congressional Research Service-The Committee on Foreign Investment in the United States (CFIUS), March 6, 2014.
  • [6]  Jiang, Shiwei. "Is Bipolarity a sound recipe for world order–as compared to other historically known alternatives." ICD Annual Conference on Cultural Diplomacy in the USA" Options on the Table," Soft Power, Intercultural Dialogue & the Future of US Foreign Policy. 2013.
  • [7]  Li, J., Guisinger, S., “Comparative Business Failures of Foreign-controlled Firms in the United States,” Journal of International Business Studies, 22, 2, 199.
  • [8]  Rosoff, William L. and Hauer, Akin. “RECENT DEVELOPMENTS IN CHINESE FDI IN THE UNITED STATES”, China Forex, June 15 2013.
  • [9]  Sauvant, Karl P. Investing in the United States: Is the U.S. Ready for FDI from China? Edward Elgar Publishing, 2009.
  • [10]  Shih, Toh. “State gold miner enters US arena via HK backdoor”, South China Morning Post, February 11, 2010.
  • [11]  Khan, Aamir Hussain. UNSC’s expansion: prospects for change and implications for the regions and the world. Diss. Monterey, California: Naval Postgraduate School, 2015.
  • [12]  Shue, Vivienne. The Reach of the State: Sketches of the Chinese Body Politic. CA: Stanford University Press, 1988.
  • [13]  Zhang, Yuwei. “The Changing Face of Chinese ODI in the United States,” China Daily, January 9, 2014.
  • [14]  Zhao, Suisheng. China -U.S. Relations Transformed: Perspectives and Strategic Interactions. New York: Routledge, 2007.
  • [15]  Zhou, May. “PetroChina Poised for Expansion,” China Daily USA, November 22, 2013.
  • [16]  Zhou, Yu. The Inside Story of China's High-tech Industry: Making Silicon Valley in Beijing. Rowman&Littlefield Publishers, 2007.
  • [17]  Zhu, Charlie and Chen, Aizhu. “PetroChina's Former Indonesia Chief under Investigation,” Reuters, October 16, 2013.
  • [18]  Zhu, Rongji. The Road to Reform 1991–1997, Washington, D.C.: Brookings Institution Press, 2013.
Copyright © 2017 Isaac Scientific Publishing Co. All rights reserved.