Western oil companies face Asian upstarts in Africa

Western oil companies operating in Africa, one of the world’s fastest growing petroleum regions, are meeting their match – in the form of Asia’s national oil companies.

Aggressive, determined and motivated by burgeoning domestic demand, the Asian upstarts are making their way into African plays by addressing the countries’ developmental needs, aided by huge state coffers provided by governments less concerned with profit than supply. African government officials say unless Big Oil adapts to meet the challenge, it risks losing market share.
Market Watch