OTCPK:MAUXF - Post by User
Post by
SUEMEon Jun 10, 2011 9:00am
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Post# 18698026
Nigerian Oil to China!
Nigerian Oil to China!
China is busily signing contracts with Nigeria and Angola and is looking at
possible projects in other oil-rich African nations such as Niger. Nigeria and
Angola already supply China with as much oil as Saudi Arabia.14 Table 1 lists
those countries in Africa that had either produced oil or had confirmed oil
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reserves in December 2005. China has been involved in various oil business
deals with a majority of the 19 countries listed. Furthermore, China has either
established or been pursuing oil deals with 100 percent of those countries that
have at least 0.5 billion barrels of proven reserves.
Country/Region
Oil15
(Billion Barrels)
Algeria 11.350
Angola 5.412
Benin 0.008
Cameroon 0.400
Chad 1.500
Congo (Brazzaville) 1.506
Congo (Kinshasa) 0.187
Cote d'Ivoire (IvoryCoast) 0.100
Egypt 3.700
Equatorial Guinea 0.012
Ethiopia 0.0004
Gabon 2.499
Ghana 0.017
Libya 39.126
Morocco 0.001
Nigeria 35.876
South Africa 0.016
Sudan 0.563
Tunisia 0.308
Africa 102.580
Red indicates Chinese involvement
Table 1: Africa Proved Reserves of Oil; Chinese Imports
The information in Table 1 is indicative of China’s increasing activities around oil
in Africa. In 2003 China did not import oil from Cote d’Ivoire, Ethiopia or
Morocco. However, in 2004 China began to explore and strike up deals with
these countries.