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Wednesday, May 6, 2009

State financial endeavour in overseas vitality support has regularly "victory"

By Zou himfr

The implementation of China's oil has always been diversification strategy, this year is a fruitful year. In addition to the dust settled yesterday, the Sino-Russian energy talks, China this year also in other parts of the world's oil cooperation frequently "victory." Behind these achievements reflect the Chinese to find out more oil than the previous strategy and the way in negotiating skills are also more skilled.

Sino-Russian vitality chats in the matching time, China and Brazil, Venezuela, Kazakhstan in addition noted a three-single-commonly famous as the "loans-for-oil" deal. Among them, with Brazil arrived at 10 billion U.S. dollars is a advance accord, Brazil accepted to in harmony with the market from February 2009 to January 2010 a day to deliver 100,000 to 16 million barrels of oil. And Venezuela, which realize the 12 billion U.S. dollars of oil co-financing finance, dedicated to the Venezuelan boundary will be 2013 before the year China's oil deliver from 30 million barrels to 100 million barrels per day. As for last week set off the allotment of Sino-Kazakh accord arrived at 10 billion U.S. dollars. In augmentation, Ecuador, President Correa advertised that on April 5, with China freshly noted a one billion U.S. dollars the total allotment of the advance agreement.

"Current international crude oil prices in the low market demand in the doldrums, which is conducive to the buyer and the seller to make a rational choice." China Institute of Contemporary International Relations Institute of the world economy, Chen Fengying, so to explain China's oil cooperation this year, significantly speeding up the reasons.

And Zhou Jiping, leader of China National Petroleum Corporation's interpretation is "currently opposite the worldwide power market buying into possibilities and the need of a fall in oil and gas charges somewhat reduced worth of the assets of the opportunities."

Than in the past but this year, a important distinction is that China's oil procedures to find out more tips and schemes for collaboration with multinational oil monster is an example.

At present, the China National Petroleum Corporation and Sinopec and Shell are jointly bidding to negotiate oil exploration rights in Iraq matters. In addition, Total is working with oil in Venezuela to discuss the establishment of a joint venture company for exploration. And will be completed by July this year, the Kazakh oil and gas company acquisitions as well as by the oil companies and the Kazakhstan national oil and gas joint.

"Through collaboration with the oil monsters, Chinese businesses are more expected to deal in overseas." Mirae Asset Financial Group of Korea in Hong Kong in ascribe of Energy Research, said Gordon Kwan.

Perhaps this arrives from a malfunction of numerous years of know-how in acquisitions. At that time, CNOOC endeavoured to come by U.S. Unocal, but finally fruitless journeys encountered. - 20611

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