Category: Oil

Nigeria’s NNPC in Talks With Chinese Company on Refinery, CEO Says

By Camillus Eboh NNPC chief executive Bayo Ojulari said the company was seeking experienced operators as equity partners to revive its four refineries after years of losses and underperformance. He said an internal review carried ...

China’s Nanshan Group Plans 100,000-Bpd Refinery in Indonesia

By Chen Aizhu and Fransiska Nangoy China's Shandong Nanshan Group plans to build an oil refinery on Indonesia's Bintan island, where the privately controlled firm operates a large alumina plant, according to three Chinese sources and an Indonesian official.

China’s Teapots Buy Iranian Oil to Replace Venezuelan Supply, Sources Say

By Siyi Liu Chinese independent refiners are buying discounted Iranian heavy crude to replace Venezuelan shipments that have stalled after the U.S. claimed control of the OPEC producer last month, two people with knowledge of the matter said on Monday.

Trump Says He Welcomes Chinese Investment in Venezuelan Oil

U.S. President Donald Trump said Saturday he would "welcome" Chinese investment in Venezuela's oil industry as the South American country seeks to revive its battered economy following the ouster of leader Nicolas Maduro. Venezuela sits on the world's largest proven oil ...

China Voices Support for Cuba as Sanctions Tighten and Oil Supplies Grow Uncertain

China on Tuesday reaffirmed its political support for Cuba and criticized the United States for tightening sanctions on the island, as Havana faces renewed pressure on energy supplies and external assistance. In a statement posted on social media, China’s foreign ministry ...

Analysis from Cobus van Staden

Confusing Developments in “Development”

This week I’m in Brussels, where I took part in a workshop on how the EU should shape its development strategy in response to China’s global influence.
I have joked in the past that it feels like I’ve attended this same ‘EU, Africa, and External Development Partners’ conference for ten years straight. 

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U.S. Allows China to Purchase Venezuelan Oil but Not at ‘Undercut’ Prices of Maduro Days, Official Says

By Timothy Gardner The Trump administration is allowing China to purchase Venezuelan oil but not at "unfair, undercut" prices at which Caracas sold the crude before the U.S. removed President Nicolas Maduro, a U.S. official said on Thursday. While the ...

China’s Low-Key Response to the Iran Crisis

China was among the first and most vocal opponents of the U.S. military intervention in Venezuela and the abduction of President Nicolas Maduro. Curiously, though, when U.S. President Donald Trump threatened to launch military strikes against Iran as Tehran dealt with ...

China’s Heavy Reliance on Iranian Oil Imports

China, the world's largest crude importer, is the main buyer of oil from OPEC producer Iran, leaving Beijing uniquely exposed to any supply disruption from conflict in the Middle East. Beijing, which is also the biggest buyer of ...

Why the Venezuela Crisis Won’t (Seriously) Affect China’s Oil Supply

In the wake of the Trump administration’s incursion into Venezuela and its stated plan to seize the country’s oil output, the focus has swung to China’s historical role as a major buyer of Venezuelan oil. Venezuela was an early testing ...

China Denounces U.S. Intervention in Venezuela, Casting Washington as a Global Lawbreaker

Over the weekend, the Chinese government steadily intensified its denunciations of the United States over the recent military intervention in Venezuela and the arrest of President Nicolás Maduro. Chinese Foreign Minister Wang Yi on Sunday blasted Washington for violating Venezuela's sovereignty and said ...

China Condemns U.S. Forcible Seizure of Venezuela’s President

China condemned the U.S. for what it called a forcible seizure of Venezuelan President Nicolás Maduro after U.S. strikes in Venezuela, demanding his release and warning against “world judge” behavior. Foreign Minister Wang Yi said no country should act ...

China’s Long Bet on Sudanese Oil Comes to an End

China and Sudan’s three-decade-long “oil diplomacy” has completely collapsed, a Chinese think tank said, after the leading state-owned oil firm China National Petroleum Corporation (CNPC) officially withdrew from its final complex in the African oil-rich but war-torn nation. The think tank ...
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