• 6 minutes Can the World Survive without Saudi Oil?
  • 10 minutes Saudis Threaten Retaliation If Sanctions are Imposed
  • 15 minutes Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 3 hours U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
  • 3 mins WTI @ $75.75, headed for $64 - 67
  • 3 hours Saudis Pull Hyperloop Funding As Branson Temporarily Cuts Ties With The Kingdom
  • 22 mins OPEC's No. 2 Producer Wants to Know How Buyers Use Its Oil
  • 3 hours U.S. - Saudi Arabia: President Trump Says Saudi Arabia's King Wouldn't Survive "Two Weeks" Without U.S. Backing
  • 2 hours Iranian Sanctions - What Are The Facts?
  • 15 hours How High Can Oil Prices Rise? (Part 2 of my previous thread)
  • 15 hours UN Report Suggests USD $240 Per Gallon Gasoline Tax to Fight Global Warming
  • 4 mins China Thirsty for Canadian Crude
  • 17 hours Two Koreas: U.N. Command Wrap Up First Talks On Disarming Border
  • 16 hours Shell, partners approve huge $31 billion LNG Canada project. How long till Canadian Federal government Environmentalates it into the ground?
  • 3 hours EU to Splash Billions on Battery Factories
  • 3 hours Superhumans
High Prices Benefit Iran Despite Lost Oil Exports

High Prices Benefit Iran Despite Lost Oil Exports

Iranian Vice President Eshaq Jahagiri…

EIA Inventory Count Accelerates Oil Price Slide

EIA Inventory Count Accelerates Oil Price Slide

Oil prices continued to slide…

Argentina Now Receiving 40 Percent of Chinese Regional Investments

In Argentina Mandarin Chinese is now the main language in use in local petroleum companies, which are dominated by Chinese buyers. During the period June 2010 through May 2011 Argentina attracted 40 percent of the Chinese investments in Latin America, amounting to $15.584 billion, according to a study by the U.S. Deloitte consulting firm. "China is focusing on the natural resources industry and it is now also gaining ground in Latin America. A good part of those operations were in the energy and natural resources sector," reported Deloitte.

China’s Argentinean investments were exceeded only by Brazil, where investment was also primarily intended for the country’s fuel sector. Chile, the usual focus point of international markets interested in Latin America, got less than 1 percent of the Chinese regional investments, Clarin newspaper reported.

Recent Chinese energy purchases include China National Offshore Oil Corp. purchasing 60 percent of Pan American Energy for $7.059 billion in partnership with the local group Bridas Energy Holdings. The two companies already controlled 40 percent of the business. For this transaction they paid USD. CNOOC then purchased assets belonging to Esso in Argentina for $700 million. China Petrochemical Corp., or Sinopec, bought operations and holdings from the U.S.-owned Occidental petroleum company, paying $2.5 billion.

By. Joao Peixe, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

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