China, Africa, and Oil

As global demand for energy continues to rise, major players like the United States, European Union (EU), and Japan are facing a new competitor in the race to secure long-term energy supplies: China. As its economy booms, China is intent on getting the resources needed to sustain its rapid growth, and is taking its quest to lock down sources of oil and other necessary raw materials across the globe. As part of this effort, China has turned to Africa, an oil-producing source whose risks and challenges have often caused it to be overlooked economically. Some reports describe a race between China and the United States to secure the continent’s oil supplies. Others note that while Chinese interests in Africa have surged, Western states still make the vast majority of investments in Africa and remain highly influential.

… Africa holds a fraction of the world’s proven oil reserves — 9 percent compared to the Middle East’s nearly 62 percent — but industry analysts believe it could hold significant undiscovered reserves. As a result, China is seeking to increase its oil imports from the continent. It now receives about one-third of its oil imports from Africa, 9 percent of the continent’s total exports in 2006 (by contrast, the United States purchased 33 percent of that year’s exports from Africa). China’s biggest suppliers in Africa as of 2006 were Angola, the Republic of Congo, Equatorial Guinea, and Sudan. It has also sought supplies from Chad, Nigeria, Algeria, and Gabon.

Washington Post