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It has been more than 30 years since reform and opening up, China’s economy continues to grow. Especially in recent years, our GDP is growing at close to 7%, which provides the enterprises a better macroscopic development environment in our country. However, long-term extensive economic development mode consumes immense amount energy. Because China has proven oil reserves and production cannot meet the rapid growth in demand, and to face the world energy market for petroleum resources, the national oil security has become a crucial research topic.

The M&A risk analysis of china’s oil enterprises--takes CNOOC’s acquisition for unocal as an example