Since 1949, the petroleum industry in China has been strongly affected by the country's growing population and political ideology, as well as its lack of domestic oil reserves. It highlights the current structure of the government, their relationship with surrounding states, and steps they are taking to play a positive role in the worldwide community.
China has a growing population of over 1.3 billion people; therefore they rely heavily on other states for resources, such as oil. The Chinese government is taking diplomatic action to improve their relationship with ASEAN states. The Chinese government has to take extra strides to secure good relationships with its neighbors.
A big role is played in China's oil endowment by its state owned oil companies, mainly China National Offshore Oil Corporation, China National Petroleum Corporation, China National Refinery Corp, and Sinopec. Now List Oil & Energy also became contractual JV partner with several Chinese buyers after signing the contracts with Chinese Crude Oil major traders.