Study On CNOOC’s Internationalization Strategy

As the second decade of the 21 st century draws to a close,globalization and anti-globalization still exist as an unavoidable issue.In recent years,a series of events in the international community,such as Britain’s departure from Europe,the rise of populism in some countries and trade frictions between China and the United States,have proved that the momentum of anti-globalization is still strong.However,as a rapidly developing country,China still jointly promotes the stable development of the global economy with like-minded countries and regions.Only under the background of globalization,can we accelerate economic transformation and improve the level of industrial development,so as to create a good business environment for enterprises to internationalize.With the accelerating pace of "going out",the original market and scale of enterprises can no longer meet the requirements of enterprises ‘sustainable operation.Domestic enterprises realize that in order to gain a place in the fierce international competition,they must make good use of domestic and foreign resources,actively participate in international competition,make full use of international capital and introduce advanced management experience.Only in this way can we improve the ability of resource allocation and industrial integration,and become an international enterprise better.As an important pillar and force of China’s economic structure,under the guidance of SASASAC(State-owned Assets Supervision and Administration Commission),the central enterprises have made substantial progress in their business since the implementation of the "going out" strategy.Although the overseas assets,income and profits have greatly increased,the central enterprises have also encountered many problems and risks in entering the international market.The purpose of this paper is to take CNOOC,a typical internationalized central enterprise,as an example for analysis,and to provide experience for the reform and stable development of central enterprises like CNOOC.China Offshore Oil Group Co.,Ltd.(hereinafter referred to as "CNOOC")has occupied a place in the world’s large oil and gas exploration and production enterprises after 36 years of experience,and its business performance has been outstanding in the performance of China’s central enterprises for many consecutive years.However,CNOOC’s road to internationalization is not smooth sailing.Although it has made a lot of achievements,it has also suffered many difficulties.Through the analysis of the internal and external environment of CNOOC,this paper elaborates the internationalization strategy of CNOOC in detail,expounds the different problems encountered in the internationalization process of CNOOC,shares the successful experience of CNOOC internationalization,summarizes the lessons of CNOOC’s failure,and puts forward policy suggestions for CNOOC’s development from the perspective of enterprise development.It provides a very meaningful reference for the central enterprises to clearly identify their own position and formulate the direction of enterprise development.