• 4 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 7 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 11 minutes Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 14 minutes Wonders of Shale- Gas,bringing investments and jobs to the US
  • 2 hours Evil Awakens: Fascist Symbols And Rhetoric On Rise In Italian EU Vote
  • 2 hours Is $60/Bbl WTI still considered a break even for Shale Oil
  • 4 hours Theresa May to Step Down
  • 7 hours Old - New Kim: Nuclear Negotiations With U. S. Will Never Resume Unless Washington Changes Its Position
  • 3 hours IMO 2020 could create fierce competition for scarce water resources
  • 6 hours India After Elections: Economy And Hindu Are The First Modi’s Challenges
  • 3 hours IMO2020 To scrub or not to scrub
  • 8 hours Total nonsense in climate debate
  • 3 hours Devastating Sanctions: Iran and Venezuela hurting
  • 12 hours Trump needs to educate US companies and citizens on Chinese Communist Party and People's Liberation Army. This is real ECONOMIC WARFARE. To understand Chinese warfare read General Sun Tzu's "Art of War" . . . written 500 B.C.
  • 227 days Epic Fail as Solar Crashes and Wind Refuses to Blow
  • 5 hours Apple Boycott in China
  • 5 hours Compensation For A Trade War: Argentina’s Financial Crisis Creates An Opportunity For China
  • 44 mins Level-Headed Analysis of the Future of U.S. Shale Oil Industry
Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Trending Discussions

China Just Made Its First Big Move On The Silk Road, In Uranium

Asia’s emerging Silk Road corridor may be one of the biggest developing stories in natural resources. And this week saw one of the first big deals in this space since China announced the initiative earlier this year.

That came in Kazakhstan. Where a slate of Chinese companies announced agreements in the country’s world-leading uranium industry.

CGN Mining, a listed subsidiary of China General Nuclear Power Corporation, signed up to take a minority stake in Kazakh uranium deposits, according to reports from Reuters.

The deal also includes construction of a fuel assembly production plant. With the plan reportedly being to send the entirety of this fuel supply back to China’s nuclear reactor fleet. Related: $30 Oil Will Accelerate Much Needed Rebound

And the deals didn’t stop at uranium. With Chinese companies also signing up Kazakh assets in the oil and gas space.

That included China’s CEFC Energy agreeing to buy a 51% share in a subsidiary of Kazakh state oil and gas firm KazMunayGaz, which operates refineries and gas stations (as well as fertilizer plants) across Europe.

China National Chemical Engineering also agreed to construct a natural gas-fueled chemical complex in Kazakhstan. Related: Forget Oil Majors, Stripper Wells Offer Better Returns

Overall, this string of deals was said to be worth $4 billion. With sources from the Chinese companies involved saying part of the funding for the ventures will come from China’s recently-created $40 billion Silk Road infrastructure fund.

That would make these moves in Kazakhstan the most significant investment to date China has made under the Silk Road initiative. Showing that the country is serious in its plan to transform Asia and Eastern Europe through trade and infrastructure, especially with regard to natural resources.

This is a great confirmation for developers working on mining and petroleum projects along the Silk Road. Watch for more funds being deployed by China in this part of the world.

Here’s to taking the old road

By Dave Forest

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News