Of the 10 biggest foreign mergers or acquisitions by Chinese companies this year, seven have been in the energy sector.
The targets range widely in their geography. The state-owned China National Petrochemical Corporation has invested almost $10 billion in 2013 in oil and gas fields in Mozambique and Kazakhstan. Another state-owned company, Sinopec , spent $3 billion on a 33% stake in Apache’s Egypt fields.
So far in 2013, over 20% of oil and gas deals globally have involved a Chinese firm
The same trend was on display in 2012, capped by the blockbuster $15 billion purchase of by Canada’s Nexen by China National Offshore Oil Corporation — a big play for oil sand and shale gas.