Analysis On The Target Market Selection And Business Strategy Of International Operations Of Upstream Enterprises Of China Petrochemical Corporation

In recent years it has becomes increasingly obvious in the contradiction of replacement of petroleum resources in China. Petroleum resources are relatively scarce, so oil imports had been increasing over years and the import dependence is higher. In such a situation petroleum industry embarked on the road of overseas investment and opening up oil resources abroad in China, supplying the scarcity of domestic resources, making the major contribution of protection of the smooth development of the national economy. China Petrochemical corporation (hereinafter referred to Sinopec), as one of a super-large petroleum national company, takes positive stratagem of"going out", which accelerates paces of the international exploration development of oil and natural gas. But overall, the Chinese petrochemical corporation in the international management of the process is still in its initial stage. International management experience is not enough. At the same time, implementing the international oil and gas exploration and development projects, "information asymmetry" between investors and the oil and gas resources countries is an objective existence, which is a very negative factor to the right investment, high-risk oil exploration and development projects. Therefore, according to research needs, directed only at the status quo of the upstream petrochemical enterprises in the international operations, international oil markets are divided into the Middle East, Central Asia (foreshore Caspian Sea), Africa, South America and the Asia-Pacific region, analyzing from the oil and gas resources. Political and economic situation and relevant laws, policies and investment environment, and other aspects of the above area. Meanwhile, the paper concluded the analysis on international management achievements and experience of Sinopec.The paper provides inspiration and reference of the international operation of upstream enterprises of Sinopec. Therefore, in the analysis process, the paper takes the main comparative analysis, supplemented by case analysis, So as to determine foreign exploration and development and project contracting and technical services the target market and business strategy, international operations of the main aspects, which provides a theoretical basis of implementation of international operations of upstream enterprises of Sinopec.