With cash in hand, Chinese companies are expanding aggressively, and in a reversal of the situation 15 years ago, many are buying back the ownership stakes held by their cash-strapped foreign joint venture partners.
FORBES: China's Coming M&A Boom
2.
The government, keen to double production to over 800, 000 barrels per day, has pledged to allow cash-strapped Petroecuador, the state oil company, to form joint ventures with private-sector firms.