Research On The Competitive Strategy Of Chinese Oil Industry Under Low-oil Price

Oil is an important national strategic energy and concern about the national economy and the people’s livelihood.The fluctuation of oil price has a profound influence on China’s oil industry.However,since the second half of 2014,the international oil price has dropped steeply and remained fluctuating at a low level.Low oil prices have become a long-standing problem.Under the background of low oil prices in China petroleum industry how to survive,how to develop competitive strategy in order to obtain competitive advantage is the oil industry had to consider the current problems in our country,therefore,to study China’s oil industry competition under low price strategy is particularly important.To study the competitive strategy of China’s oil industry under the condition of low oil price,it is necessary to study under the background of low oil prices oil industry development present situation at home and abroad as well as China’s oil industry relative to foreign oil industry competition,internal and external environment facing the oil industry in China,China’s oil industry competition strategy formulation,choice and implementation.First of all,the paper studies the status quo of the development of petroleum industry at home and abroad under the condition of low oil price respectively,compares the current situation of domestic and international petroleum industry competition,and finds out the competition situation and the gap that China’s oil industry faces under the condition of low oil price.Based on PEST,five force model,value chain and other strategic analysis tools,this paper analyzes the internal and external environment of China’s oil industry under low oil price,and determines the external factor evaluation matrix(EFE matrix)and internal factor evaluation matrix(IFE matrix)of China’s petroleum industry under low oil price.On this basis,use of the SWOT matrix to formulate alternatives for China’s oil industry competitive strategy under low oil prices,combined with the internal external matrix(IE matrix)and quantitative strategic planning matrix(QSPM matrix)match and selection of low oil prices of China’s oil industry competition strategy,finally choose differentiation strategy for low oil price competitive strategy the petroleum industry in our country.According to the selected competitive strategy,the implementation strategies of China’s oil industry competition strategy under low oil price are put forward from the industry level and government level respectively.Among them,the industry level should be implemented from four aspects of management system,technology,brand image and marketing differentiation.The government level should be implemented from four aspects of perfecting the laws and regulations of the oil industry,increasing the support of the government policy,strengthening the construction of the petroleum strategic reserve system,and perfecting the oil pricing mechanism of China.The enterprise should adjust measures to local enterprise conditions,actively seek new sources of growth and stimulate the vitality of enterprises.