• 4 minutes Is The Three Gorges Dam on the Brink of Collapse?
  • 8 minutes The Coal Industry May Never Recover From The Pandemic
  • 11 minutes China Raids Bank and Investor Accounts
  • 1 hour Sources confirm Trump to sign two new Executive orders.
  • 10 hours CV19: New York 21% infection rate + 40% Existing T-Cell immunity = 61% = Herd Immunity ?
  • 4 hours In a Nutshell...
  • 1 hour No More Love: Kanye West Breaks With Trump, Claims 2020 Run Is Not A Stunt
  • 23 hours Why Wind is pitiful for most regions on earth
  • 10 hours A Real Reality Check on "Green Hydrogen"
  • 1 day Why Oil could hit $100
  • 10 hours Better Days Are (Not) Coming: Fed Officials Suggest U.S. Recovery May Be Stalling
  • 1 day During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 10 hours Putin Paid Militants to Kill US Troops
  • 46 mins Where is Alberta, Canada headed?
  • 3 days Coronavirus hype biggest political hoax in history

China Pay $20 Billion for Front Seat in Africa's Hydrocarbon Show

In the recent Forum on Chinese-Africa Cooperation (FOCAC), China has secured its ties with Africa by pledging almost twice as much aid money as last year. President Hu Jintao promised $20 billion to help develop infrastructure and agriculture in Africa.

China’s interest and investment in Africa is purely to do with the continents hydrocarbon reserves.

Niger’s President Mahamadou Issoufou recently visited CNPC in China and praised them for “turning Niger into an oil producer.” Ghana’s Vice President John Dramani Mahama has also thanked applauded China’s $1 billion loan which helped develop its natural gas industry.

In little more than a decade CNPC has secured itself in the energy sectors of nearly a dozen African countries. It entered Sudan in 1996; Tunisia in 2002; Chad, Algeria, and Niger in 2003; Mauritania in 2004; Libya in 2005; and Nigeria, and Equatorial Guinea in 2006.

Recently interest in Africa has increased even more after huge natural gas reserves were discovered in East Africa off the coast of Tanzania and Mozambiqie.

Western companies have always vied against China for market share in Africa, however, whereas the West refuse to work with any regime which is considered rogue, China shows no such qualms and readily ignores human rights abuse in order to establish itself in a country and win the rights to its oil and gas fields.

In 2006 Amnesty International announced that China had become the world’s largest small-arms dealer, and that most of that was exported to Africa in order to support certain governments there who have appalling human rights records but valuable hydrocarbon resources. China quickly denied the claims, claiming that Amnesty International was being politically manipulated by the West.

By. Charles Kennedy of Oilprice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

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