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Research Note

China's Oil Hunger in Angola: history and perspective

Pages 351-367 | Published online: 07 Feb 2012
 

Abstract

China aims to secure, across the globe, the natural resources and raw materials needed to sustain the rapid economic growth in its manufacturing and industrial sectors. Among the many critical resources needed to fulfill its variegated energy needs, oil is by far the most important one given that it fuels its economic engine. Angola's vast oil reserves and flexible production levels make it a leading producer and exporter of crude oil. It quickly became a strategic oil supplier to China. In 2010, Angola supplied one-quarter of China's oil imports.

Notes

*Sigfrido Burgos is Unit Coordinator at the Food and Agriculture Organization (FAO) of the United Nations, Rome, Italy. Sophal Ear is Assistant Professor in the Department of National Security Affairs at the US Naval Postgraduate School, Monterey, CA, USA. The views expressed are those of the authors and do not reflect the views of the FAO, the United Nations, the Department of the Navy, or the United States Government. The authors can be reached by [email protected]

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46. With 75% of GDC shares owned by the China International Fund, it features as the controlling partner.

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52. The Sinopec Group, the largest shareholder of Sinopec Corp., is a super-large petroleum and petrochemical group incorporated by the State in 1998 based on the former China Petrochemical Corporation. Funded by the State, it is a state-authorized investment arm and state-owned controlling company.

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55. For broader analysis, see Thomas Friedman, ‘The first law of petropolitics’, Foreign Policy, (May/June 2006).

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58. Chevron and Exxon Mobil are already there; Dole Food Co. and Chiquita Brands International want access.

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