Though national oil companies have forced the Western oil giants to look farther afield for new reserves, the oil prices, unlike gas prices, are supported by the state-owned firms that make up OPEC.

Russia's state-owned oil company Rosneft and the United States energy giant Exxon Mobil have announced a strategic deal to jointly explore and develop oil and gas reserves under the sea in the Arctic.

Risk profile and financial strength of Chinese four state-owned commercial Banks in terms of asset quality capital adequacy bad loan reserves and profitability are analyzed in systematic way.