• 3 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 5 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 9 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 minutes China's Blueprint For Global Power
  • 7 hours EU has already lost the Trump vs. EU Trade War
  • 1 day Science: Only correct if it fits the popular narrative
  • 19 hours Crazy Stories From Round The World
  • 1 day Iran Burning: Shock Gas Price Hike Triggers Violent Protests After Subsidy Cuts
  • 20 hours Everything You Need To Know About Trump
  • 8 hours IEA predicts oil demand will grow annually at 1 million barrels a day for the next 5 years
  • 25 mins Pope Proposes New Sin: Thou Shalt Not Destroy The Harmony Of The Environment
  • 1 day Atty General Barr likely subpeona so called whistleblower and "leaker" Eric Ciaramella
  • 2 hours Water, Trump, and Israel’s National Security
  • 18 hours Impeachment Nonsense
  • 10 hours ‘If it saves a life’: Power cut to 1.5 million Californians
  • 2 days What are the odds of 4 U.S. politicians all having children working for Ukraine Gas Companies?
  • 2 days Who writes this stuff? "Crude Prices Swing Between Gains, Losses"
Dave Forest

Dave Forest

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

More Info

Premium Content

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



Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play