Category: Oil

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 ...

The Afghan government signed a symbolically important oil extraction deal with a Chinese state-owned company, the first such agreement since the Taliban took power in 2021. The Chinese side will own 80% of the venture and invest $150 million annually in ...

The U.S. government drew on its Cold War history on Friday with the launch of a new "China House" initiative that aims to coordinate foreign policy towards Beijing. The new office will house an expanded inter-agency team of China experts who will focus on competition with China in ...

The obvious reason for Xi Jinping's trip to Saudi Arabia is to foster closer ties with one of China's largest oil suppliers (Russia and Saudi Arabia have been battling for the top spot for much of the past year), but that alone would overlook the increasingly dynamic ...

Fifteen years ago, Africa supplied a third of China's imported oil and was a key recipient of foreign investment beyond its near abroad in east Asia. Today, a large portion of that energy procurement has shifted to countries in the Persian ...

Chinese President Xi Jinping said Beijing is considering hosting a third Belt & Road forum next year, the first time a major BRI event would be convened in China since the beginning of the pandemic. The key question is whether China will relax its strict COVID travel restrictions ...

Chinese oil imports from African countries dropped 22.6% year-on-year in the January-September period, highlighting a decade-long transition away from the continent to suppliers in Russia, the Persian Gulf and Brazil. The drop in 2022 further eroded Africa's total ...

A military stand-off between a Chinese-run mining company and the DRC's state-owned mining giant Gécamines is heading to arbitration.  Congolese army forces took control of two of the Australian-based, Chinese-controlled company MMG's mines in Haute Katanga. After the company's appeals to Congolese authorities went unanswered, MMG is now ...

The steadily deteriorating ties between the United States and Saudi Arabia are coinciding with what appears to be a concerted shift by the Kingdom to foster closer ties with Asia's largest powers, namely China, India, and South Korea. On Friday, Saudi ...

South Korea imported 31 million barrels of Saudi Arabian oil last month, up 30% compared to the same time last year, according to new data from the Korea Customs Service. Today, South Korea is Asia's ...

China has sided with the Ugandan government in condemning the European Parliament’s September call to pause the building of a 1,443-kilometer oil pipeline from Uganda to Tanzania. Zhang Lizhong, China’s ambassador to Uganda, said the EU “should not use the excuse of environmental ...

The United States government on Wednesday imposed new sanctions against Iranian oil companies and the network of firms that help facilitate the flow of Iranian crude to markets in East Asia, specifically China. Every year, millions of barrels of oil are effectively ...