A Research On Several Legal Institutions Of The Establishment Of Transnational Petroleum Company Of China

The Petroleum Industry of China was started in the 1960's and achieved self-sufficiency in the 1970's. However, the gap between production and consumer demands of the oil and gas is increasing rapidly in current years. So, solving the problem of shortage of oil and gas supply becomes an essential and arduous task for the Petroleum Industry of China. Most of the big overseas oil companies are operating as transnational companies, so they use global petroleum reserves to help to build the oil reserve system for their own countries and serve their economies. Obviously, our petroleum companies can take this as good point of reference.This paper, first of all, makes an analysis on the current situation and development of the Petroleum Industry of China, and the trend of internationalized business operating we currently facing. Based on this analysis, a proposal of making overseas investment and developing our own transnational oil company is introduced. With this direction of development, the paper emphatically analyzes the current status of related government administration and legal provisions of China, proposes principles of legislation of the overseas investment and offers suggestions for improving the legislation system, especially the legislation of the overseas investment insurance. At last, the paper puts forward the modification and supplemental proposals for several specific legal provisions and our current administration system.