China oil deals flow where politics less involved

Sinopec’s $7.2 billion bid for oil explorer Addax Petroleum is a sign that China’s energy giants find it easier to secure reserves in parts of the world where there are fewer hang-ups about Beijing owning local natural resources.

Africa and the Middle East, where Swiss-based Addax has its main assets, are more politically disposed to China than are developed nations such as the United States, where local politicians blocked CNOOC’s $18.5 billion bid for oil company Unocal in 2005, analysts say.
Reuters