oil imports

China Set to Become Largest Net Oil Importer

The U.S. Energy Information Administration predicts that China is likely to become the world’s largest net oil importer as soon as October: The imminent emergence of China as the world’s largest net oil importer has...

China Says South Sudan Oil May Flow

As China and South Sudan work to rebuild the latter’s infrastructure through a $2.5 Billion grant to build new universities, China’s Africa envoy, Zhong Jianhua, says South Sudan’s oil may flow by November. This claim comes...

China Loans South Sudan $2.5 Billion for Universities

South Sudan has struggled to build its infrastructure since gaining independence from Sudan last year after decades of civil war. The country relies on oil exports for 98% of its revenue, but the oil industry has been shut down...

China Begins to Turn Against Iran

During Premier Wen Jiabao’s visit to the Persian Gulf, he struck deals with a number of countries, including Saudi Arabia, the United Arab Emirates and Qatar, many of whom are worried by Iran’s nuclear ambitions....

Chinese Visit to Saudi Arabia Touches on Oil and Politics

Premier Wen Jiabao is visiting Saudi Arabia and participating in talks there that may shift the dynamic of China’s relationships in the Middle East, especially with Iran. From the New York Times: Mr. Wen’s visit to Saudi...

Pivoting Out of the Frying Pan, Into the Fire?

Obama’s foreign policy “pivot” has been described by The Australian’s Asia-Pacific editor, Rowan Callick, as the embrace of “a new positive narrative — engagement with economically vibrant and...

India Seeks to Rival China in Africa

The Indian Prime Minister’s visit to Africa has prompted widespread analysis of an escalating strategic competition between the world’s two most populous nations. From The Economist: For all its elephantine weight,...

China to Import 47% of Oil Next Year – the Beijing News

Translated by CDT from the Beijing News: China’s petroleum output this year will exceed 186 million metric tons, or 1.5% more than the previous year, China’s oil and chemical industry association vice president Meng Quansheng (孟全生) said on December 19. He said the country’s oil output next year is expected to top 189 million tons, […]

Iraq to Seek Chinese Help – Shai Oster

From the Wall Street Journal: Iraq ‘s leaders face major challenges in fixing the nation’s ailing oil-production system, a necessary part of any effort to fund its rebuilding. For help, they are turning to one of the world’s most voracious oil consumers: China. Iraqi President Jalal Talabani , set today to begin a weeklong trip […]

Chinese leader visits oil-rich Russian region – AFP

From AFP, via Yahoo! News: Chinese President Hu Jintao met industry chiefs in Russia’s oil-rich Tatarstan region on Wednesday during a visit aimed at securing energy supplies and smoothing relations between the neighbouring countries. In Kazan, capital of the mainly Muslim province in central Russia, Hu met heads of heavy industry such as oil producer […]

Iran presses oil customers to pay in currencies other than dollars – Reuters

From Reuters, via the IHT: Zhuhai Zhenrong Trading, a Chinese state-run company that is the biggest buyer of Iranian crude oil worldwide, began paying for its oil in euros late last year as Tehran moved to diversify its foreign exchange reserves away from U.S. dollars. The company, which buys more than a tenth of the […]

Using Less Oil – Tong Lixia

From Beijing Review (link): At first glance, the official figures of China’s oil consumption in 2005 seem a bit confusing. With a robust economic growth and rising annual oil imports, China made the surprise announcement that its oil consumption growth rate was dropping sharply, from 15.3 percent in 2004 to 2.1 percent in 2005. Earlier, […]



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