Oil majors warned to tread carefully when bargains arise

Chinese oil companies are being warned to be wary of asset quality before making any overseas acquisitions.

Han Xiaoping, chief information officer at the China Energy Net Consulting Co, said on Tuesday that after six months of oil price falls it has become a good time to buy assets with bargains available around the world.

As a neighbor and huge buyer of Russia's natural gas and crude resources, he said China should study Russian opportunities, particularly, as well as those in Central Asia.