China's oil industry

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"India and China in the next few years will be in direct competition with America and European Union for oil and natural gas from all over the world specially Middle East. The bottom line is that who ever gets to use the oil, will grow faster and eventually dominate the world." --Sonia Chaturvedi wrote in India Daily, February 16, 2005.

"China first became an oil importing country in 1993. Its insatiable hunger for oil has since been an important factor in driving up world oil prices. The country's demand for oil is expected to grow by 8.1% or 510,000 barrel per day (bpd) by 2005, according to the International Energy Agency (IEA)." --Phar Kim Beng, Asia Times, September 23, 2004.

Cooperative Venture

"India and China, the most aggressive shoppers for oil and gas assets in the world, and normally archrivals in the race for overseas oilfields, have finally come together to pursue their energy security in the global arena," Indrajit Basu reported in the December 22, 2005, Asia Times.

"China National Petroleum Corporation (CNPC) and India's Oil and Natural Gas Corporation (ONGC), the two largest oil companies in the respective countries, announced on December 20 that they had jointly won a bid to acquire 37% of Petro-Canada's stake in Syrian oilfields for US$573 million. ONGC and CNPC, both state-owned, will have equal stakes in the al-Furat oil and gas fields," Basu wrote.

Although CNPC and ONGC "have been working together as joint operators in Sudan for the last three years," this will be "the first time, then, that an Indian company [will] acquire an oil property along with a Chinese company," Basu wrote.

China's Oil Industry

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Articles & Commentary

From the BBC

  • "Kazakhs agree to China pipeline," May 18, 2004: "Kazakhstan and China have signed a deal to build a 1,240-km oil pipeline from Kazakhstan to the Chinese border."
  • Mary Hennock, "China's global hunt for oil," March 9, 2005: "China's craving for oil to drive its industrial boom and, to a lesser extent, satisfy its love affair with the motorcar, has helped to push up global crude oil prices."
  • Ian MacWilliam, "Kazakh-China oil pipeline opens," December 15, 2005: "Kazakhstan and China have inaugurated a 1,000km-long (620-mile) oil pipeline to supply Kazakh oil to energy-hungry western China."

From Asia Times