Wu, Kang

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    Energy in Latin America : production, consumption, and future growth
    (Westport, Conn. : Praeger, 1995) Wu, Kang ; Obadia, Cynthia
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    Energy security in China's capitalist transition : import dependence, oil diplomacy, and security imperatives
    (London: New York: Routledge, 2008) Wu, Kang ; Storey, Ian
    The People's Republic of China (PRC) had been a net energy exporter since the 1960s. In 1993, however, China became a net oil importer. Largely as a result of China's capitalist transition, China's thirst for energy resources has continued to grow massively in recent years. This is deepening the country's energy import dependence, which in turn is changing many aspects of China's energy markets and accelerating China's integration with the rest of the world. However, with higher dependence on energy imports, particularly imports of oil, energy security has emerged as a top issue for the Chinese leadership. Indeed, the exigencies of energy security have come to influence the conduct of China's foreign relations. There are in general four dimensions of energy security. The first is the economic dimension. Energy security means smoothly securing adequate supplies of energy efficiently and at the lowest cost. This requires governments to have an energy policy that is transparent and reduces barriers to the efficient operation of markets. The second is the geopolitical dimension. Promoting energy security means that oil or energy diplomacy plays a key role in a country's foreign policies. The third is the national security and military dimension. Energy security can be an important component in formulating a country's national security and defense policies. The final is the environmental dimension. To manage energy consumption while simultaneously protecting the environment and avoiding ecological degradation, any country, particularly a large and fast growing developing country like China, faces huge challenges. The purpose of this chapter is twofold. First, we will analyze the nature and seriousness of China's energy vulnerabilities, especially rising dependence on energy imports. Second, we will examine the economic, geopolitical, and, to a lesser extent, military dimensions of the dilemmas shaping China's energy security. Unfortunately, a detailed analysis of the environmental issues associated with energy security is beyond the scope of this chapter, though these issues will be touched on.
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    China's overseas oil and gas investment : motivations, strategies, and global impact
    (MARIS, 2008-03) Wu, Kang
    In the mid and late 1990s, China embarked on a path of investing in overseas upstream oil and gas assets and intensified its efforts in the latter part of the decade. Since the beginning of this decade, Chinese state oil companies have made a bigger push to expand overseas, an effort strongly favored and encouraged by the Chinese government. The Chinese state oil companies have thus been taking advantage of the central government’s growing concern over potential disruptions to their energy supplies to realize their desires of having larger business operations around the world. “Going out” has become part of the overall investment strategy for every state oil company in China. China National Petroleum Corporation (CNPC) leads the charge in overseas upstream petroleum investment. CNPC was later joined by its publicly-listed subsidiary PetroChina. China National Offshore Oil Corporation (CNOOC), through its publicly listed subsidiary CNOOC Limited, has followed CNPC’s lead in the pursuit of overseas ventures. China Petrochemical Corporation (Sinopec), together with its own publicly listed subsidiary Sinopec Corp, comes in third in its overseas energy investment activities. In addition to these three, state oil trading company Sinochem Corporation and two non-oil state companies, China International Trust & Investment Company (CITIC) and ZhenHua Oil Company, have also begun investing in oil and gas overseas.