Core Viewpoint - China's oil technology has unexpectedly surpassed that of traditional oil powers like the US, Germany, and Russia, marking a significant shift in the global oil industry landscape [1][9]. Group 1: Historical Context - In the early 2000s, China faced significant challenges in oil extraction technology, particularly in deep-sea drilling, which was dominated by the US and Europe [3][5]. - Foreign companies charged exorbitant fees for drilling equipment, and technology transfer was heavily restricted, leaving China at a disadvantage [3][5]. Group 2: Technological Advancements - By 2010, China began investing heavily in deep-sea drilling technology, overcoming initial skepticism from foreign experts [5][9]. - Currently, China's deep-sea drilling platforms can operate at depths of 3,000 meters, with costs 30-40% lower than foreign products [9][11]. - Significant breakthroughs have also been made in shale oil extraction, with China's efficiency and environmental standards now comparable to those of the US [9][11]. Group 3: Current Standing and Future Prospects - China's "Ocean Oil 981" drilling platform can operate in 12-level typhoons, showcasing advanced technology that even impresses Norwegian experts [11]. - Foreign companies are now seeking partnerships with Chinese firms to learn from their advancements, reversing the previous dynamic where China was dependent on foreign technology [11][13]. - The future looks promising as China continues to explore new energy developments and carbon capture technologies, indicating ongoing growth and innovation in the oil sector [13][14].