An Analysis On The Legal Matter For Risk Prevention Of China’s Overseas Petroleum Investment

As an important strategic resource, oil is the basis for the normal operation ofeconomy, the global scramble for oil resources is also very fierce. After China became anet oil importer since1993, the contradiction between oil supply and demand appearsgradually. In order to get a stable oil resources to meet the requirement of economicdevelopment in China, our country put forward the strategy of "going out", and takeoverseas petroleum investment as an important strategic target to be implemented. Inorder to uphold our country’s energy security, the oil enterprises continually enhancetheir international competitiveness of their own and positively response to the nationalcall. However, the way of investment in overseas oil is not smooth all the way and thereexists many risks, which is decided by the particularity of petroleum industry itself andthe complex environment faced by overseas oil investment. In the process of China’smore than20years of overseas petroleum investment, the risk is also undergoing somechanges, China’s petroleum enterprises in the face of these risks also showed a series ofproblems, such as a lack of experience, a fatigue in using law etc.. and all theseproblems have a certain influence for the investment strategy of China’s overseaspetroleum investment.This paper aims to study the risks which might be encountered during the processof China’s overseas petroleum investment, and discuss the necessity as well as therelative legal basis and measures of risk prevention, so as to provide a theoreticalsupport for China’s "going out" strategy.The first part of this article explains the basic problems of our oversea petroleuminvestment and points out the particularity, risks as well as the necessity of its riskprevention of this industry. The second part systematically analyzes the internationallegislative authority for preventing the risk of overseas petroleum investment. The thirdpart systematically and empirically analyzes China’s situation of legal risk preventionfor the overseas petroleum investment, and the existing problems. The last part is thefocus of this article, which proposes to consummate the legal safeguard mechanism forrisks of our overseas petroleum investment, so as to prevent the petroleum investmentrisk.