Evaluation of the sustainable competitiveness of China’s state-owned oil enterprises under the low-carbon energy transformation

In the process of global energy low-carbon transition, oil enterprises are facing the choice of development strategy.At this stage when there is no subversive replacement of primary energy, it is very important for China’s state-owned oil enterprises to achieve a successful transformation and maintain sustainable development capabilities.In view of this, this paper aims at the sustainable development of enterprises, from four dimensions of scale strength, operating ability, profitability and development ability, constructs a state-owned oil company’s sustainable competitiveness evaluation index system that can reflect the characteristics of the oil industry, the index system uses the entropy method to conduct benchmark analysis of the sustainable competitiveness of China’s three major state-owned oil companies (PetroChina, Sinopec, and CNOOC) and Exxon Mobil from 2014 to 2018.The evaluation results show that the sustainable competitiveness of PetroChina and Sinopec has shown an upward trend of “inverted V” shocks, and the sustainable competitiveness curve of CNOOC is stable.Benchmarking analysis finds that ExxonMobil’s scale strength and development capabilities have been significantly improved.State-owned oil enterprises have sometimes exceeded the benchmarking companies in terms of scale strength, and their development abilities are prominent.However, there is still a gap with Exxon Mobil in terms of operating ability, profitability and development ability.Finally, this paper puts forward relevant countermeasures and suggestions for the sustainable competitiveness of China’s state-owned oil enterprises.