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Category: Oil

Environmentalists: China Should Invest More in Renewable Energy Rather Than the East African Crude Oil Pipeline

Even as Uganda is seeking $1.8 billion for the East African Crude Oil Pipeline (EACOP), some Ugandan environmentalists are expressing displeasure with China’s involvement with the project. Their frustration stems from reports that China will finance the project after ...

China Exim Bank to Finance Controversial East African Oil Pipeline: Media Reports

The China Exim Bank will reportedly come to the rescue of the East African Crude Oil Pipeline after Standard Chartered Bank withdrew from the project that aims to transport oil from western Uganda to the coast of Tanzania. Ugandan Energy Minister Ruth ...

Uganda’s Oil & Gas Charm-Offensive on Chinese Companies as Activists Intensify EACOP Protests

Climate security campaigner 350.org is pleading with financiers to withhold support of the construction of the 1,443km East Africa Crude Oil Pipeline (EACOP) which cuts across Tanzania and Uganda. On Thursday, the New York-based organization accused France's TotalEnergies of profiteering from ...

Nigeria to Finance Major Pipeline After Chinese Funding Falls Through

The Nigerian government will pick up the tab to build the last portion of the 614-kilometer AKK natural gas pipeline that China had originally agreed to finance. In 2017, the Bank of China negotiated a deal to fund the $2.5 billion project ...

TotalEnergies Signs Deal With Chinese Contractor for Controversial Africa Pipeline Work

French energy giant TotalEnergies concluded a deal with China Petroleum Pipeline Engineering and East Africa Oil Pipeline operator EACOP to build the environmentally controversial pipeline in East Africa. The Chinese company will replace a Russian pipe supplier to provide some of ...

Analysis from Cobus van Staden

Argentina Scores $924 Million in Deals from China

Argentina’s Economy Minister Sergio Massa managed to secure almost a billion dollars‘ worth of investment deals on the first leg of his trip to China.
He is on an economic rescue mission, with talks expected to renew and extend a currency swap agreement in order to infuse much-needed foreign money into the Argentinian economy.

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More Evidence of China’s Diminishing Appetite for African Oil

It wasn't that long ago when China sourced a third of its imported oil from three African suppliers that included Angola. Today that figure is down to just 10% and appears to be steadily declining as Chinese buyers shift to sourcing crude from Russia, Persian Gulf countries ...

Iran-China Trade Topped $15 Billion Last Year: Report

Two-way trade between China and Iran increased by 7% last year to $15.8 billion, according to new data by Chinese customs authorities. Iranian exports to China accounted for $6.35 billion, while imports from China totaled $9.4 billion.

WEEK IN REVIEW: Brazilian President Expected to Reschedule China Visit to April 11th

Singaporean Prime Minister Lee Hsien Loong embarked on a week-long trip to China on Monday that will include meetings with both President Xi Jinping and Premier Li Qiang. The visit marks the Singaporean leader's first visit to China since the COVID-19 pandemic. (STRAITS TIMES)

Russia Knocks Saudi Arabia From Top Spot as China’s Leading Oil Supplier

Russia overtook Saudi Arabia in the first two months of the year as China's largest oil supplier, with purchases surging 24% compared to the same time last year, according to new Chinese customs data. Chinese buyers were seemingly keen to take ...

Uganda to Become Africa’s Newest Oil Exporting Country With Inauguration of New Chinese-operated Drilling in Lake Albert

Ugandan President Yoweri Museveni's long-held ambition to export oil via the controversial East Africa Crude Oil Pipeline (EACOP) will move closer to reality on Tuesday when he commissions the country's first new drilling site in Lake Albert. The President will inaugurate ...
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