Luo’s Anton Oilfield

china private oil companies

The Rise and Fall of China’s Private Oil Companies

By Fang Xiangliang and Coco Feng via Caixin | In 1999, Luo Lin quit his secure job at China National Petroleum Co. (CNPC) and founded his own private firm providing services to the massive state-owned oil giant. Back then he couldn’t have foreseen the dramatic ups and downs that would characterize the 25-year transition that such smaller oilfield service companies have experienced.