This paper suggests that an optimal local content policy in the context of flawed institutions is a more minimal one than those typically pursued by developing countries with recently discovered petroleum reserves. We argue that local content requirements need to be seen as a public expenditure...

Requirement and Present Situation of the Oil and Gas Resources in China -- Main Fields of Oil and Gas Exploration and Problems -- Prediction of Development Objectives in Scientific Field on Oil and Gas Resource in the Future -- Primary Scientific Research Orientations in Terms of Oil and Gas...