"There's a resistance to Chinese investment in (U.S.) oil and gas," Morningstar analyst Robert Bellinski says. "It's like how Japan was to us in the 1980s. People think they're going to take us over. They're going to buy all of our resources."
Morningstar Equity Research analyst Robert Bellinski said Sinopec's continued investment in international upstream assets is key in building its technical capability and offsetting oil imports over the long run.