The energy transition of the Chinese national oil companies towards renewables: An opportunity or a bottleneck?

Suleyman Orhun Altiparmak and Sidan Wang

Economic and Political Studies, 2023, vol. 11, issue 4, 516-528

Abstract: Renewable energy is the fastest growing energy source. China, the world’s biggest energy consumer, is also the largest investor in renewable energy. Although it is expected that oil will continue to dominate the energy mix in China and in the world by 2040, a transition towards a renewable model in the energy sector is unfolding, which has also been acknowledged by international oil companies (IOCs). Then, how the Chinese national oil companies (NOCs) approach such a transition becomes important – to what extent their investment transform and what are the pressures and influences behind the transformation. This paper investigates the positions and decisions taken by the Chinese NOCs, through comparing the similarities and differences between these NOCs and IOCs. A neo-Gramscian theoretical framework that considers environmental governance through dynamics at material, organisational, and discursive levels is used to examine the Chinese NOCs’ energy transition. We find that the Chinese NOCs’ energy transition is determined by: materially, economic profits; organisationally, the administrative environmental governance structure that copes with the market competition against IOCs and other state-owned companies; and discursively, the political concept of ecological civilisation.

Date: 2023
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DOI: 10.1080/20954816.2023.2195527

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