More consolidation in the oil and gas sector is inevitable as larger companies take advantage of the strategic opportunities presented by their junior counterparts, according to professional service firm Ernst and Young.
Where this will take the country's energy strategy from here is unclear, but some observers believe China is unlikely to push too aggressively in other areas of possible controversy, such as the widely disputed Spratley Islands (Nansha islands, in Chinese) in the South China Sea, and the Diaoyu (Senkaku, in Japanese) islands, over which it contests ownership with Japan, in the East China Sea.
