China Binges on African Oil Like Never Before After OPEC Cuts - Bloomberg. China is set to import record amounts of crude oil from West Africa this month as OPEC’s supply cuts pave the way for other nations to gain a greater foothold in the fast-growing Asian market.
West African producers led by Angola and Nigeria are poised to send crude to China at the rate of 1.48 million barrels a day in April, the most since Bloomberg began compiling the data in August 2011, according to loading programs and traders. Overall Asian imports of West African crude are poised to reach 2.4 million barrels a day this month, also a record. The surge in flows occurs as the Organization of Petroleum Exporting Countries curbs output in an effort to drain a worldwide glut that has depressed crude prices for nearly three years.
China's Sinopec buys first major African refinery in Chevron deal. BEIJING (Reuters) - China's Sinopec said on Wednesday it has agreed to pay almost $1 billion for a 75 percent stake in Chevron Corp's South African assets and its subsidiary in Botswana, securing its first major refinery on the continent.
China Petroleum and Chemical Corp, or Sinopec, Asia's largest oil refiner, said the assets include a 100,000 barrel-per-day oil refinery in Cape Town, a lubricants plant in Durban as well as 820 petrol stations and other oil storage facilities. They also include 220 convenience stores across South Africa and Botswana. With a growing middle class, demand in South Africa for refined petroleum has increased by nearly 5 percent annually over the past five years, to currently total about 27 million tonnes, it said. China's CBSteel planning to feed Brazil operations with African coal - report - BNamericas. Definitions Projects covered include state-owned and private projects in the Infrastructure, Electric Power, Oil & Gas (excluding upstream), Water and Waste, and Mining sectors.
Where applicable, a project is considered as such until the end of construction and ramp-up to full capacity (with the exception of mining projects, where the date of commissioning signifies the end of the project). Projects must have a: Nigeria, China Sign Agreements On Mining. By Ademola Adebayo Nigeria and China have signed two Memoranda of Understanding (MoU) on geosciences cooperation during the Nigeria-China Mining Investment Roadshow which held in Beijing, China.
The MoUs provide for cooperation between the Nigerian Geological Survey Agency (NGSA), the China Geological Survey (CGS) and the Shandong Provincial Bureau of Geology and Mineral Resources of China. The Director General, Nigeria Geological Survey Agency, Mr. Alex Nwegbu, signed the MoU on behalf of the government of Nigeria while the Vice President, China Geological Survey, Mr. Wang Xiaolie, signed for the People's Republic of China. The MoU with CGS centres around research and development of basic geology, geological maps compilation and regional mineralisation correlation, conduct of regional, national and geochemical mapping of Nigeria on various scales. China controls 75% of oil investment in Sudan: minister — Alexander's Gas and Oil Connections.
Sudanese petroleum minister Mohamed Zayed Awad said that Chinese companies control 75 percent of foreign investment in Sudan’s oil sector.
Ghana’s gas offered to China for 19 years - NPP alleges - MyJoyOnline. The New Patriotic Party (NPP) has alleged that the government of Ghana (GoG) is offering Ghana's gas to China in what it termed as a "dangerous agreement" between the two states.
The party revealed aspects of the intended agreement at a press conference in Accra on Wednesday. NPP’s Policy Advisor Boakye Agyarko said: “the Mahama Cabinet has recently given approval to a proposal which they hope will entice the China Development Bank to re-activate the remaining $2 billion of the $3 billion loan which the Chinese discontinued after disbursing $1 billion of it to Ghana.”
In the original Master Facility Agreement, he said, President Mahama committed Ghana to supplying, as collateral security, 13,000 barrels per day of crude oil up to 2027 to service the CDB facility. “The Chinese eventually considered this as insufficient because of the slump in oil prices, refusing to release the remaining tranches,” he said. Mr. Chinese investors to invest additional $70bn in Nigeria’s Petroleum sector – Kachikwu.
The Minister of State for Petroleum, Dr Ibe Kachikwu, on Wednesday said Chinese private sector companies had pledged an additional investment of 70 billion dollars to the Nigerian economy.
Kachikwu said this while addressing State House correspondents on the outcome of the Federal Executive Council (FEC), presided over by President Muhammadu Buhari in the Presidential Villa, Abuja. He said that the Council was briefed on the outcome of the ministry’s China roadshow which took place in January. La Chine interdit l’importation de matières premières_CCTV.com française_央视网(cctv.com) La Chine a annoncé un embargo sur les importations de certains produits en provenance de la République populaire démocratique de Corée.
Cette interdiction intervient après les sanctions imposées par l'ONU contre la RPDC et son récent essai d'une arme nucléaire. La RPDC tire fierté de ses capacités nucléaires et militaires, mais la communauté internationale ne voit pas les choses du même oeil. Suite aux résolutions adoptées par le Conseil de sécurité de l'ONU contre Pyongyang en mars, c'est maintenant la Chine qui annonce mardi un embargo visant à ralentir le développement du programme nucléaire de son voisin. La Chine interdit ainsi la plupart des importations de charbon, de minerai de fer, de terres rares entre autres matières premières.
La Chine interdit l'importation de matières premières Elle interdit aussi d'exporter vers la RPDC du carburant pour avions. Nigeria signs $80 billion of oil, gas infrastructure deals with China. LAGOS (Reuters) – Nigeria has signed oil and gas infrastructure agreements worth $80 billion with Chinese companies, the West African country’s state oil company said on Thursday.
Nigeria, an OPEC member which was until recently Africa’s biggest oil producer, relies on crude sales for around 70 percent of national income, but its oil and gas infrastructure is in need of updating. Le Maroc, pays africain préféré des sociétés minières mondiales. Le Maroc est le pays africain le plus convoité par les sociétés minières internationales en 2015, rapporte le site en ligne spécialisé Mining review Africa.
Menée par l’Institut Fraser, think tank canadien, le sondage place le pays en 24ème position sur 109, en termes d’attractivité des investissements, juste devant le Burkina Faso (29ème) et le Ghana (31ème). L’année dernière, le Maroc occupait la 40ème place dans le classement et la 4ème place africaine, après le trio de tête composé de la Namibie, le Botswana et la Zambie. Après la Finlande en 2015, c’est l’Australie-Occidentale qui coiffe le classement pour cette édition du sondage.
L’indice d’attractivité des investissements prend en compte la perception des politiques menées autour de l’industrie par les pays ainsi que leur potentiel minier. What crisis? Undeterred, China snaps up vital Congo resource as western miners bail out. AS low copper prices and disrupted power supplies reduce output and lead to job cuts by companies including Glencore Plc in the Democratic Republic of Congo, Chinese companies are plowing in more investment.
The shareholders of a Chinese project known as COMMUS in January approved a $578 million plan to develop a copper concession on the outskirts of Kolwezi, the capital of Lualaba province in southeastern Congo. The owners will invest $173 million in the project and raise the rest in debt, Zhejiang Huayou Cobalt Co. said in a January 15 statement to the Shanghai Stock Exchange. China switching to African oil may lead to Saudi price cut: Russell. DR Congo-China JV to produce copper by end 2015. DR Congo is vying to become a major producer of copper in Africa. (Image source: WikimediaCommons) The two Chinese companies – Sinohydro Corp and China Railway Group Limited – have signed a JV agreement with state miner Gécamines, in southern Katanga province, to produce copper. Copper production is part of the Sicomines deal that was struck between China and DR Congo in 2007. According to the deal, DR Congo will provide minerals in exchange for infrastructure supported by China.
The Central African nation will oversee the implementation of the deal, said government officials. Chinese consortium to begin work on Ugandan copper mine. The Kilembe Mines in southwestern Uganda are rich in copper and cobalt deposits. (Image source: Iamgold/Wikimedia Commons) The consortium took over operations of the mine from Kilembe Mines Limited in 2013 and since, has been executing technical work on the mines, according to project officials. The Chinese consortium had also committed to invest US$175mn towards the rehabilitation of the mine and upgrade a power plant to assist mine operations. The mines are rich in copper and cobalt, but production had been halted from 1982. The Chinese consortium would work towards replacing old machines left behind in 1970, and install newer machines with a lifespan of atleast 30 years. Chinese firm to sink N160bn in oil exploration, refinery project in Niger.
The Niger State Government said on Tuesday that a Chinese firm had agreed to invest N160 billion in oil exploration activities in the state. The Commissioner for Mining and Mineral Resources, Alhaji Abubakar Jibreel, made the disclosure in Minna at a press briefing on the ministry’s activities in 2013. He said the amount would also cover the cost of building a refinery in Baro, Agaie Local Government Area of the state. 7. China's Energy Footprint in Africa - China in Africa - AGE (African Growing Enterprises) File. Over just a few years, China has become Angola’s most important economic partner in theworld, shunting aside its more traditional partners with long-standing energy interests suchas France, Brazil, Portugal, United Kingdom and the US. After the decision was made to target West Africa as both a strategic and energy node inthe developing world, China aggressively sought to woo the Angolan leadership. China best bet to unlock West African iron ore - Investec. China is the obvious solution to unlock the potential of the huge iron deposits in West Africa, according to Investec.
The broker said it had identified six infrastructure hubs with the potential to produce up to 730 million tonnes per annum (mtpa), but which currently is largely unrealised. The broker’s analysts suggest China is uniquely positioned and incentivised to develop these iron ore projects to reduce its dependence on Australian/Brazilian imports and to push the marginal cost, and price, of iron ore lower.
West Africa has more potential than Australia, adds Investec, and the economics work: “On paper, the solution is obvious. China's CNOOC wins $2bn Uganda oil field contract. 26 September 2013Last updated at 01:54 ET China's energy demand has risen sharply over the past few years as its economy has expanded China's state-owned oil firm China National Offshore Oil Corporation (CNOOC) has won a $2bn (£1.3bn) deal to develop an oil field in Uganda oil.
The Kingfisher field is estimated to hold 635 million barrels of oil, of which 196 million are recoverable. Anhui Construction, Congo Plan to Take Diamond Company Public. Anhui Foreign Economic Construction Group of China and the Democratic Republic of Congo created a joint venture to mine diamonds in Eastern Kasai province and plan to take the company public. The 50-50 venture between Anhui and the central African country may produce 6 million carats a year by 2016, according to documents published on the Mines Ministry’s website yesterday. Anhui, based in Hefei, will pay $4.2 million for its half, plus a signing bonus of as much as $61 million, and invest an estimated $100 million in infrastructure, the documents show. Congolese Mines Minister Martin Kabwelulu didn’t respond to a mobile-phone message requesting comment. A phone call to Anhui Foreign Economic Construction Group’s sales office went unanswered today, while a receptionist at the company’s headquarters said no one was immediately available to comment.
De Beers , the world’s largest diamond miner, produced 27.9 million carats last year. Untitled. Asia Economic Institute : Chinese Company Invests in Somalia. Chinese giant corporation, CNOOC, has been granted legal permission from Somalia to excavate for oil. This is a step forward towards a more integrated China in Africa. Also, it shows China's desperate need for alternative energy sources, other than that from the Middle East, and the extent by which it is willing to risk security for energy since Somalia has a long history of political instability.
Chinese investment in Africa may rise 70% by 2015. China in Africa: The Real Story.