BIZCHINA / America
China hopes to enhance understanding with U.S. in energy exploitation
(Xinhua)
Updated: 2006-10-19 11:08
China hopes to enhance understanding with the United States in energy
exploitation, said a senior official with the National Development and
Reform Commission (NDRC) on Wednesday.
Responding to criticism by the United States of China's exploitation of
petroleum in Africa, in particular Sudan, Zhang Yuqing, deputy director
of the Energy Bureau of the NDRC, said cooperation with African countries
in energy resources is mutually beneficial.
Speaking ahead of the Forum on China-Africa Cooperation (FOCAC), Zhang
said, "If we aren't allowed to go to this place or that place, then where
should we go?"
He said that Chinese companies wanted to cooperate with American
companies in the United States but the state-owned China National
Offshore Oil Company (CNOOC) Ltd. was forced to withdraw a bid for major
U.S. oil company Unocal after strong opposition from the United States.
China has always opened its door to other countries and many U.S.
companies have invested in energy in China, which accounts for more than
60 percent of the overall foreign investment in this field, Zhang said.
He said China and the United States should enhance communication and
understanding, and contribute to the development of the oil industry.
China imported 38.34 million tons of crude oil from Africa in 2005,
accounting for 30 percent of its oil imports.
By the end of 2005, China had invested in 27 major oil and natural gas
projects in 14 African countries, including Sudan, Algeria, Angola and
Nigeria.
Official figures show that the country imported 126.82 million tons of
crude oil in 2005.
Four African countries, namely, Angola, Sudan, Congo and Equatorial
Guinea, were among the top 10 oil exporters to China in 2005.
FOCAC is a mechanism for collective dialogue and cooperation jointly
established by China and Africa to cope with new challenges and
facilitate common development.
Since the launch of the FOCAC in 2000, two ministerial conferences have
been held in Beijing and Addis Ababa.
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