BP, the world's largest oil company, is examining ways to increase cooperation with Chinese companies to jointly explore and tap new oil and gas reserves in foreign countries, the China Daily reported. Speaking on a recent visit to Beijing, BP CEO Lord John Browne said that with China now the world's second largest oil consumer and an "integrated participant in the world energy scene" the time had come for BP to do more in terms of co-investment with Chinese oil companies overseas. For Chinese oil companies such cooperation is expected to bring a series of benefits, including access to BP's extensive international experience as well as reducing the risks of overseas expansion and giving them greater clout in international negotiations.
Categories