As a newcomer of global oil market, both China and India are confronting with substantial difficulties and intense competition in global expansion of domestic oil companies. However, there are some differences between the two countries' politics and economic systems, and their overseas expansion of petroleum industries shows different characteristics, which provides opportunities for learning from each other. According to the nation oil strategy implementation and internationalization level of enterprises, the advantages and disadvantages of global expansion patterns in China and India's oil industry were analyzed, and the opportunities for the two countries' complementary contributions were discussed. The cooperation prospects of petroleum industry's overseas expansion were described.