Nowadays, China's economy is increasing rapidly. Since Africa is abundant in petroleum, its explored petroleum reserve being 12% of the world's total reserve with the amount of 233.8 billion tons, which is just less than Middle East and South America, so it can provide China with enough energy. Because the petroleum in Africa has high quality and low sulphur content, it is easily be extracted and refined and also appropriate to be produced into vehicle fuel. What's more, most Africa oil fields are beneath the Atlantic Ocean and sea around west and central Africa. That is they are far away from mainland and the efffects of war and political dispute.
A few of African oil-producing countries joined the OPEC, and basically, they are all implementing a policy of opening to the outside world and encouraging foreign countries to invest while the environment of exploiting petroleum is relatively better. In addition, the oil drilling success rate in West Africa is as high as 35%, which decides that African energy will be well-known in the world.
However, no matter how high the risk is, China is still implementing China Energy Strategy steadily. As for China, the risk of international energy cooperation is the price latecomers in the international petroleum market has to pay. Energy cooperation is the linkage between the mutual benefits and collective wins of China and Africa. In the meantime, Africa is most important energy partner of China. How to enlarge cooperation domain in exploiting resources endlessly and reducing the risk to the utmost of energy cooperation is not only the problems that China has to resolve in order to ensure the energy security and sustainable ecomomic development, but also the test that Chinese governments and petroleum enterprises have to face. Nowadays, China's economy is increasing rapidly. Since Africa is abundant in petroleum, its explored petroleum reserve being 12% of the world's total reserve with the amount of 233.8 billion tons, which is just less than Middle East and South America, so it can provide China with enough energy. Because the petroleum in Africa has high quality and low sulphur content, it is easily be extracted and refined and also appropriate to be produced into vehicle fuel. What's more, most Africa oil fields are beneath the Atlantic Ocean and sea around west and central Africa. That is they are far away from mainland and the efffects of war and political dispute.
A few of African oil-producing countries joined the OPEC, and basically, they are all implementing a policy of opening to the outside world and encouraging foreign countries to invest while the environment of exploiting petroleum is relatively better. In addition, the oil drilling success rate in West Africa is as high as 35%, which decides that African energy will be well-known in the world.
However, no matter how high the risk is, China is still implementing China Energy Strategy steadily. As for China, the risk of international energy cooperation is the price latecomers in the international petroleum market has to pay. Energy cooperation is the linkage between the mutual benefits and collective wins of China and Africa. In the meantime, Africa is most important energy partner of China. How to enlarge cooperation domain in exploiting resources endlessly and reducing the risk to the utmost of energy cooperation is not only the problems that China has to resolve in order to ensure the energy security and sustainable ecomomic development, but also the test that Chinese governments and petroleum enterprises have to face.