China’s Strategic Options at Tapping the World’s Crude Oil Resources

　　Abstract: Successful entry into, as well as to acquire a share of, the world’s crude oil resource pool constitutes one of the most fundamental objectives of big powers when exercising their rights to overseas crude oil supplies; the ultimate aim is to gradually stabilize, then expand existing rights to oil exploitation. The key to this process is whether the big power in question is able to effectively overcome the resistance of its competitors, and win over the support of resource suppliers. On closer examination of China’s energy diplomacy, limited diversification of interests is the most important strategy at securing the rights to overseas crude oil. Meanwhile, restricted gains and exploiting contradictions are effective strategies against competitors’ interference. After its fundamental objectives are fulfilled, the big power would need to expand its influence over the supply regions in order to extend those oil exploitation rights. The Chinese experiences to this end have given some clues as to how this can be done. It primarily involves maintaining cordial political and economic relations with the supply regions, and raising exploitation efficiencies, in contrast to other options like providing security to resource suppliers. China’s experience in this endeavor is a result of China’s current capacity and overall foreign policy strategy. 

　　Authors: Sun Xuefeng, Associate Professor, Department of International Relations, Tsinghua University; 

　　Wang Haibin, Post-Doctorate, School of Public Policy and Management, Tsinghua University