X

Sign Up To Our Free Newsletter

Join Now

Thanks for subscribing to our free newsletter!

ERROR

  • 4 minutes IMPORTANT ARTICLE BY OILPRICE.COM EDITOR - "Naked Short Selling: The Truth Is Much Worse Than You Have Been Told"
  • 5 minutes “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova
  • 7 minutes United States LNG Exports Reach Third Place
  • 4 hours Texas forced to have rolling black outs. Not from downed power line , but because the wind energy turbines are frozen.
  • 23 hours Wednesday Nikki Haley reached out to Trump for meeting at Mar-a-lago. Trump said No ! You blew it Nikki . . .
  • 1 day NYT:  The Supreme Court’s order (Re:  Trump’s tax returns) set in motion a series of events that could lead to the startling possibility of a criminal trial of a former U.S. president
  • 5 hours Retired RAF pilot wins legal challenge over a wind farm
  • 8 hours Speaker Pelosi, "Tear Down This Wall"
  • 8 hours Disaster looming in UK offshore wind power
  • 7 hours The World Economic Forum & Davos - Setting the agenda on fossil fuels, global regulations, etc.
  • 5 hours Minerals, Mining and Industrial Ecology
  • 7 hours The latest GOP nonsense on Texas shows us the future Republicans want
  • 10 mins U.S. Presidential Elections Status - Electoral Votes
  • 7 hours Chance for (Saudi)Arabian peninsula having giant onshore Gas too?
  • 10 hours Pipeline vs Train vs Ship to Transport Crude Oil.

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