China’s Powerful State-Owned Enterprises Scour the Globe in a Bid to Quench the Country’s Insatiable Thirst for Oil & Gas

News reports over the past few weeks of two potential multi-billion dollar Chinese oil deals in Africa, and another significant gas-related acquisition in Kazakhstan, only further reinforces China’s insatiable appetite for energy.

The recent news that China, through one of its state-owned enterprises, is a likely bidder for 23 oil blocks in Nigeria, for up to a staggering US$ 30 Billion, and another, separate $5 billion deal in Uganda, certainly caught the eye of the international community.

However, while the intricacies of these potential deals are interesting in their own right, their significance is that they are only part of a much larger story. While this may seem like a short-term flurry of deal making, it is simply the continuance of feverish activities by the Chinese to secure oil & gas over the past few years, and most notably, in the year-to-date 2009.

Source/Full Story:  Seeking Alpha

Related Items