Insight
Young dragons: who are China’s new upstream players?
This report is currently unavailable
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
China's upstream industry has traditionally been dominated by the NOCs, but with market-oriented reforms and a greater focus on the private sector, new players are emerging. Some of these new companies - alongside a growing class of non-upstream players - have created a new tier of international Chinese buyers. This group of buyers have executed more international M&A deals than the big three NOCs since 2014 and they have spent US$22.7 billion, across over 60 international upstream deals since 2006. These are two separate but related trends. We've identified a total of 74 Chinese companies that can be divided into two categories: around 50 new domestic entrants and over 30 new international buyers.
Table of contents
-
Executive summary
- Please see the slide-pack in the Downloads section for full details.
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Insight
Two Paths, Two Tales: China and India in Metals and Mining
Why is India’s growth story different? More measured and geologically complex.
$1,050
Insight
Value over volume: anti-involution to revitalise China's EV and battery supply chain
China aims for a more nuanced, market-oriented approach to market restructuring that balances regulatory guidance with market forces.
$1,050
Insight
China economic focus July 2025: is another supply-side reform on the cards?
Chinese industries have excess capacities that are advanced in technology and low in cost.
$1,150
