Considering Beijing’s concern with energy security, its energy giants are on the
international acquisition trail, particularly in Africa. Of the total stock of outbound
Chinese foreign direct investment (FDI) which currently stands at US$37 billion,
approximately US$4.5 billion has been invested in Africa. China’s state-owned China
National Petroleum Corporation (CNPC) has invested in oil assets in Sudan and Chad.
Another SOE, China National Offshore Oil Corporation (CNOOC) has acquired energy
interests in Morocco, Nigeria and Gabon. China already procures 28% of its oil and
natural from Africa, with Sudan and Angola leading exporters to the country
Considering Beijing’s concern with energy security, its energy giants are on theinternational acquisition trail, particularly in Africa. Of the total stock of outboundChinese foreign direct investment (FDI) which currently stands at US$37 billion,approximately US$4.5 billion has been invested in Africa. China’s state-owned ChinaNational Petroleum Corporation (CNPC) has invested in oil assets in Sudan and Chad.Another SOE, China National Offshore Oil Corporation (CNOOC) has acquired energyinterests in Morocco, Nigeria and Gabon. China already procures 28% of its oil andnatural from Africa, with Sudan and Angola leading exporters to the country
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