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Category: Oil

China’s About to Buy a Lot More Russian Oil and That’s Bad News for Iran

Iran's once steady business of selling large quantities of oil to China's independent refineries may soon become the latest casualty of Russia's invasion of Ukraine.  For years, China provided Iran a vital cash flow by supplying the Chinese with 

Expect Chinese Oil Majors to Focus More Attention on the Global South to Avoid Sanctions in Global North

Chinese oil giant CNOOC is reportedly preparing to halt its operations in Britain, Canada and the United States out of concern that its assets there could be subject to economic sanctions related to the Russian war in Ukraine, according to Reuters. ...

Chinese Commerce Ministry Official Dismisses WSJ Report that China Will Buy Saudi Oil Using RMB

A well-known Chinese Ministry of Commerce (MOFCOM) official in Beijing, Cheng Wang, dismissed the Wall Street Journal report that Saudi Arabia is considering the option of allowing China to purchase oil using yuan rather than U.S. dollars.

Experts and Analysts Not Terribly Concerned About the Prospect of China Using Yuan to Buy Saudi Oil

News that Chinese and Saudi Arabian officials are negotiating to use yuan instead of dollars to purchase oil sparked a surprisingly low-key reaction among political observers and market watchers. "While there has been some hyperventilating, the reaction is generally much less excited than it would ...

As Russia Distracts the U.S., China’s Middle East Ties are Booming

As U.S. and EU foreign policy increasingly disengages from the Middle East to focus on the crisis in Eastern Europe, China is building stronger relations with the powerful Gulf Cooperation Council (GCC.) In 2020, China replaced the EU as the biggest trading partner of the GCC (made ...

Analysis from Cobus van Staden

The G7’s New Infrastructure Initiative Could Strengthen China’s Global South Game: Experts

The G7’s new Partnership for Global Infrastructure Investment (PGII), a $600 billion plan to build infrastructure across the Global South and counter China’s Belt and Road Initiative (BRI), could have the effect of improving how Chinese companies do business and could end up improving the BRI itself, according to development experts. 

Some acknowledged that the BRI has been controversial for its environmental and debt impacts. But they also pointed out ...

Oil, Terrorism High on the Agenda During Chinese Ambassador’s Meeting With Nigerien President

China's ambassador to Niger Jiang Feng met this week with President Mohamed Bazoum for talks about Monday's release of two Chinese gold miners who had been held captive for the past nine months and the new 1,950 km Niger-Benin pipeline that Chinese ...

Fresh From His Africa, Indian Ocean Tours, Wang Yi Hosts Four Persian Gulf Foreign Ministers For Unprecedented Visit

A delegation of four foreign ministers from Persian Gulf countries began a landmark week-long visit to Beijing on Monday for extended talks on energy issues and, possibly, a free trade agreement. This is the ...

When You See This Chart You’ll Understand Why This Week’s Gulf Diplomacy in Beijing is So Important

Charts listing China's top sources of imported oil used to look very different. In 2008, according to David Shinn from George Washington University, three suppliers from African dominated the top ten. At that stage Angola, the Republic of Congo, and Sudan ...

Q&A: What’s At Stake For China in Sudan?

China's reaction, so far, to Monday's military coup in Sudan has been reserved, especially compared to the forceful response Beijing issued within 24 hours of last month's overthrow of President Alpha Condé's government in Guinea. But China's interests in Guinea and Sudan are very different and ...

How Will China Respond to the Coup in Sudan?

The pre-dawn military coup in Sudan on Monday presents the latest challenge for China on how to respond to the toppling of governments in Africa where it has sizable economic and strategic interests. Normally, the Chinese Foreign Ministry tends to be ...
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