Michael Forsythe, Strong Words from Cabinet Nominee on Rivalries in the South China Sea; At hearings, Tillerson outlines a potential dispute with China. New York Times, Jan 13, 2017.
two consecutive paragraphs:
"During his [Rex W Tillerson's] tenure [as chairman and CEO of Exxon Mobil], the company forged close ties to the Vietnamese government, signing an agreement in 2009 with a state-owned firm to drill for oil and gas in two areas in the South China Sea. The agreement with PetroVietnam was signed quietly, according to a leaked United States diplomatic cable, because it conflicted with Chinese territorial claims.
"While Exxon Mobil has some operations in China, including a stake in a petrochemical plant in the country’s south, it has a very small presence in the country's huge retail market for gasoline, which is dominated by state-owned Chinese companies. In contrast, its agreements with Vietnam are potentially huge, given that the South China Sea may contain 11 billion barrels of oil and 190 trillion cubic feet of natural gas, according to the United States Energy Information Administration.
My comment: There is no need to read the rest, which -- about Tillerson's testimony at the confirmation hearings, and reactions -- is widely reported. It appears that as head of the oil giant, Tillerson cultivated a personal relationship with Putin but not so with China.