Abstract

As China’s economy is booming, its demand for petroleum is increasingly expanding, and the supply-demand inconsistency starts to surface. Since 1993, China had been one of the net import countries for petroleum. After 2003 when China became the second largest oil consuming country, it first outpaced Japan in May, 2008, to become the second largest import country for crude oil. However, the constantly increasing dependence on foreign oil is now challenging China, threatening China’s oil security and economy. International attention is being attracted to how the situation will impact on China, which is currently questing for stable development and how China will overcome the difficulty. This study sets out from the angle of international political economics to examine China’s internal and external oil security environment and the direction of China’s oil security strategies. The study comprises six chapters: Chapter 1 is the overall introduction, Chapter 2 analyzes global markets and the supply-demand status of petroleum in China, Chapter 3 explains, based on theories, the relation between national security and oil energy in China, Chapter 4 analyzes China’s oil security strategic arrangements, Chapter 5 focuses on the evaluation of China’s oil security strategic arrangements, and Chapter 6 concludes the whole paper. The study shows that the tactics of “petroleum stockpile” and “exploration of outside of China” among China’s oil security strategies are the most initiative and effective. They are not only closely connected with China’s oil security but also with the stable development of China. As China’s economic strengths enhance, petroleum diplomacy as a part of economic diplomacy does not serve only to solve the economic hardships of China. Advancing from tactics to strategies, it also serves as a diplomatic tool to project the image of a superpower.

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