Daily Oil Market News
 
Daily Oil Prices & Futures News on the Blackstuff
Friday 03rd of September 2010

6/7/2007

China to develop Sudan offshore oil

Story link: China to develop Sudan offshore oil by Brian Turner
China to develop Sudan offshore oil

China National Petroleum Corp. and Indonesia’s PT Pertamina, have confirmed this week that they have both signed 20 year agreements with the Sudanese government for exploration and development of offshore oil assets.

It comes as the Chinese government comes under increasing pressure to avoid working with Sudan over human rights abuses in Darfur, at a time when the US is especially keen to isolate Sudan on the world stage.

US investors have already been pressured to sell out of PetroChina Co., a subsidary of China National Petroleum, which is listed on the New York Stock Exchange.

China’s embolden moves to secure oil interests outside of US control and deepen ties with Sudan – now a major supplier of oil to China – comes at a time when the US, Russia, and China, are all embattled in an Energy War. This is due to each nation seeking to secure energy supplies for both national interests and international political influence.

And while the latest deal between Sudan and China will no doubt annoy Washington, Western oil companies otherwise deal quite happily with other countries with damnable human rights records, such as Burma.

 

Related news to China to develop Sudan offshore oil








Previous: «
Next: »

Visited 4533 times, 1 so far today