Abstract: Aiming at the issue of energy security China is facing at the present，it is discussed in this paper that the oil companies in China must carry on international management to ensure the stable and long-term supply of overseas energy，as well as enhance the companies development.It is recognized the China′ companies have successfully gone“cross the border”，but a lots difficulties are still faced in the overseas expansion，in order to take a certain position in the severer international energy competition，the flexible policy and strategy must be taken.Under the current condition of low loan rate，China′s oil enterprises should actively but carefully implement overseas strategy.

Key words: energy security, overseas mergers and acquisitions, economic crisis, response, petroleum company, oil price