OPEC tries to compete with Russia over China’s oil needs – Bloomberg

From The International Herald Tribune:

BEIJING Officials of OPEC are stepping up efforts to secure their market share in China as they compete with to supply the country.

Sheik Ahmad Fahd al-Ahmad al-Sabah, Kuwait’s energy and minister and the president of the Organization of the Petroleum Exporting Countries, is scheduled to lead the group’s first talks with China on Thursday as members like Saudi Arabia and Kuwait plan investments in Chinese refinery projects worth more than $8 billion. Saudi Arabia has used refinery investments to ensure sales in Japan and South Korea.

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