China's oil venture in Africa

East Asia

Volumn 24, Issue 4, 2007, Pages 399-415

  Zhao, Hong ^a  

^a NATIONAL UNIVERSITY OF SINGAPORE   (Singapore)

Author keywords

African oil; China; Energy cooperation; Energy rivalry; Equity oil; Oil strategy

Indexed keywords

DEMAND ANALYSIS; ENERGY USE; FOREIGN POLICY; INTERNATIONAL RELATIONS; OIL PRODUCTION; OIL SUPPLY; OIL TRADE; STRATEGIC APPROACH;

AFRICA; ASIA; CHINA; EURASIA; FAR EAST; NORTH AMERICA; UNITED STATES;

EID: 50449089419     PISSN: 10966838     EISSN: None     Source Type: Journal    
DOI: 10.1007/s12140-007-9027-7     Document Type: Article

References (53)

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8. Equity oil refers to standard industry production sharing agreements where the foreign oil company is given the right to sell a specified share of the oil produced. By early 2005, China's total equity oil secured was around 400 thousand barrels per day, equivalent to roughly 15% of China's total crude imports (while it makes up over 40% of U.S. oil imports) or 6% of China's current oil consumption. http:// ksgnotes.harvard.edu./research/wpaper.nsf/rwp/PWPOT-017/$File/ rwp-07.017.lee.pdf)
9. CNPC was incepted in 1988, an offshoot of the Ministry of Petroleum Industry, with business operations mainly in the north and the west of China. Sinopec (Chinese National Petrochemical Corporation) was established in 1983 after merging assets from the Ministry of Petroleum Industry and the Ministry of Chemical Industry; its stronger presence is in the south and cast. CNOOC (China National Offshore Oil Company) was formed as a corporation under the Ministry of Petroleum Industry in 1982, focusing on offshore investments.
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