oil investments

The Fact and Fiction of Sino-African Energy Relations – Erica S. Downs

From China Security (Summer 2007): The expanding footprint in Africa of China’s national oil companies (NOCs) lies at the heart of concerns of many policy-makers and pundits in the United States and Europe. China’s deepening engagement with Africa is viewed as an erosion of their own interests and influence on the continent. The conventional wisdom […]

China’s Biggest Conglomerate Buys Kazakhstan Oil Assets – AP

From AP via The New York Times: China, which is aggressively seeking overseas energy assets to run its booming economy, said Sunday that one of its biggest conglomerates had bought the Kazakhstan oil assets of a Canadian company for $1.91 billion. The CITIC Group of China bought the oil assets of the Nations Energy Company […]

China Seals Oil Exploration Deal with Nigeria – Njei Moses Timah

From OhmyNews International (link): Nigeria gave four of 17 drilling licenses to China National Petroleum Corp. (CNPC) on May 19. The deal cements an agreement made last month during a visit by Chinese President Hu Jintao. China will explore two areas in the restive, oil-producing Niger Delta and two areas in the Chad basin, where […]

Militants Warn China Over Oil in Niger Delta – Craig Timberg

From the Washington Post (link): Militants in Nigeria‘s volatile oil-producing region detonated a car bomb late Saturday and issued a warning that investors and officials from China would be “treated as thieves” and targeted in future attacks. The threat came as Chinese President Hu Jintao returned home from a week-long tour of Africa in which […]

China, Iran may finalize oil deal in March: report – Jason Subler

From Reuters, via the Washington Post: China and Iran could sign a multi-billion dollar agreement on developing a major oilfield in Iran as early as next month, the semi-official Caijing Magazine said on its Web site. The magazine cited Mu Shuling, an executive at Sinopec Corp. <0386.HK>, as saying a delegation of the National Development […]

China’s oil scramble ‘does not damage US’ – Stephanie Kirchgaessner

From The Financial Times, via The China Daily: The Bush administration on Tuesday said efforts by Chinese companies to buy international energy assets were not economically damaging to the US, dismissing growing concern among Washington lawmakers that China is hoarding global energy supplies. Although a study by the department of energy warned that efforts by […]

Oil-Hunting China Aims to Curb Appetite – Joe McDonald

From the AP, via the Houston Chronicle: Just days before a Chinese firm announced a $2.3 billion investment in a Nigerian oil field last month, President Hu Jintao warned that China has to rein in surging energy use that has made it one of the world’s biggest oil importers. The announcements underlined the dual tracks […]

China oil giant CNOOC’s shares soar on Africa buy – Wendy Lim

From Reuters: Shares in China’s top offshore oil and gas producer, CNOOC Ltd. leapt more than 4 percent on Tuesday as investors cheered the acquisitive firm’s planned $2.3 billion purchase of a stake in a Nigerian field. Analysts said the company’s largest-ever overseas acquisition was fairly priced and would help CNOOC gain valuable experience in […]

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