China-Russia Oil Cooperation

In recent years, with China’s rapid economic development, the domestic oil and gas resources cannot meet the needs of the economic development, and the trend that oil demand is higher than oil supply is continuing. The foreign dependence is also increasing significantly. Developing a stable and secure oil import channel has become one of China’s problems to be solved urgently. It is the biggest problem of China’s economic security that ensuring the supply of oil resources. Russia has become an important resource of gas and oil and the largest exporter in the world. Russia also faces the problem of multiple energy exports. Therefore, China-Russia oil cooperation has certain necessity to realize the "win-win" situation.Based on the theory of regional economic integration, the theory of comparative advantage, the theory of cooperation among countries, the theory of geopolitics and game theory, it makes the analysis of China-Russia oil cooperation. China-Russia oil cooperation prospect is optimistic. The geographical advantage, good political and historical foundation and common economic interests promote the development of China-Russia oil cooperation. But not everything is going smoothly. Some factors in China, Russia and third countries influence the China-Russia oil cooperation, the Then, through the game analysis, it explains the strategic options of China-Russia oil cooperation, oil pipeline route selection and China-Russia oil pricing problem. Then it introduces the China-Russia oil cooperation modes, mainly of China-Russia oil exploration and development cooperation mode, trade cooperation mode in the "oil loan" and pipeline cooperation mode. Finally, it offers some suggestions to promote the development of China-Russia oil cooperation, for instance, enhancing mutual trust and mutual benefit construction, implementing the "going out, bringing in" strategy, improving the oil pricing mechanism, establishing the China-Russia oil cooperation mechanism and strengthening the cooperation of companies in China and Russia.