In April 2011, Zhaotai Petroleum Energy Investment Co., Ltd. (hereinafter referred to as Zhaotai Petroleum) was established, which is an important milestone for Zhaotai Group to advance its diversification and internationalization strategy. Zhaotai Petroleum makes full use of the decision-making power and flexible operation attributes of private enterprises, and relies on the strong financial advantages accumulated over the years as well as its extensive commercial resources, setting its investment target in the field of overseas asset exploration and development of upstream oil and gas.
In a rather short time, Zhaotai Petroleum has built up its own international professional and technical team. In early 2013, Zhaotai Petroleum directed its focus on North American oil and gas exploration and development market, and successfully developed its first overseas energy project in Texas, USA. The project operated in a steady pace and has become a bridge for Zhaotai Petroleum to enter the overseas market.
In February 2014, Zhaotai Petroleum joined the China - China-Canada Natural Resource Fund as a limited partner. China-Canada Natural Resource Fund is a $10 billion Sovereign Fund jointly established by the governments of China and Canada, providing a financing platform for projects concerning global natural resources of common interest to both sides. Zhaotai Petroleum, as a member of the Fund Investment Committee, actively participates in the evaluation and decision-making process of the investment projects. By the end of 2014, the China-Canada Fund had invested in three oil and gas projects in North America.
In addition, Zhaotai Petroleum has established strategic alliance with several large oil companies and has actively engaged in the tracking and development of upstream projects in key energy areas such as the Middle East and Africa.
The Chinese government encourages private capital to enter the field of energy development at home and abroad in terms of policies and funds. The global energy framework also breeds new development opportunities with a new round of in-depth adjustment and industry reconstructions. This overall background fully validates Zhaotai's unique strategic vision of diversified and internationalized leap-forward development with energy as a breakthrough, and also indicates Zhaotai's promising prospects in the field of energy.