Abstract:This year marks the 10th anniversary of the Belt and Road Initiative proposed by General Secretary Xi Jinping. Taking the initiative as an opportunity, China’s oil companies have accumulated rich experience by accelerating their overseas deployment and carrying out extensive cooperation with countries along the route in the field of oil and gas energy. This study reviews the fruitful achievements of China’s oil companies in the transnational oil and gas exploration and development cooperation under the Belt and Road Initiative, summarizes the cooperation status and analyzes the potential and opportunities presented in the cooperation. In response to many challenges, such as the overall intensification of the Sino-U.S. contest, the spillover impact of the Ukraine crisis, the increasingly complex international investment and cooperation environment, and the increasingly urgent energy transition, following strategic directions and proposals are put forward: building a mutually beneficial community of interests in oil and gas cooperation, and steadily improving the anti-interference capability of energy cooperation; promoting the development of an international RMB settlement system and systematically improving its ability to withstand financial risks; highlighting oil and gas cooperation as the main focus, and promoting the continuous development of new energy; continuously enhancing the international core competitiveness of enterprises through technological innovation and lean management, to provide reference for Chinese oil companies to ensure national energy security, make correct decisions on development direction, and further expand international cooperation space in international cooperation.