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As for Europe, ING's Niederberger is convinced that there is greater scrutiny, but he doesn't think it is at the same level as in the US.

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Outbound investment to Europe spiked significantly There is still sufficient robust flows to Europe. They are using it as a means of growth, in addition to organic growth.

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There was a slow down and outbound activity by Chinese. But that was offset by increasing activity by Japanese outbound flows, and in Southeast Asia," Niederberger says.

Three Countries Battle It Out

Follow us. An Indonesian oil worker opens a gauge near crude oil tanks in Indonesia. Regional NOCs, meanwhile, are increasingly looking closer to home for new projects and assets.


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