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Saturday, May 16, 2009

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

By Zou himfr

The implementation of China's oil has perpetually been diversification approach, this year is a fruitful year. In augmentation to the dirt particles reconciled yesterday, the Sino-Russian vitality chats, China this year in addition in other elements of the world's oil support regularly "victory." Behind these achievements consider the Chinese to find out more oil than the earlier approach and the way in negotiating talents are in addition more skilled.

Sino-Russian energy talks in the same time, China and Brazil, Venezuela, Kazakhstan also signed a three-single-commonly known as the "loans-for-oil" deal. Among them, with Brazil reached 10 billion U.S. dollars is a loan agreement, Brazil agreed to in accordance with the market from February 2009 to January 2010 a day to supply 100,000 to 16 million barrels of oil. And Venezuela, which implement the 12 billion U.S. dollars of oil co-financing funds, committed to the Venezuelan side will be 2013 before the year China's oil supply from 30 million barrels to 100 million barrels per day. As for last week set off the amount of Sino-Kazakh agreement reached 10 billion U.S. dollars. In addition, Ecuador, President Correa announced that on April 5, with China recently signed a one billion U.S. dollars the total amount of the loan 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 significant difference is that China's oil operations to find out more tips and strategies for cooperation with multinational oil giant is an example.

At present, the China National Petroleum Corporation and Sinopec and Shell are combined offering to converse oil search privileges in Iraq matters. In augmentation, Total is toiling with oil in Venezuela to consider the establishment of a connection endeavour financial gathering for exploration. And will be concluded by July this year, the Kazakh oil and gas financial gathering acquisitions as well as by the oil financial gatherings and the Kazakhstan countrywide 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 draws close from a nonachievement of more years of understanding in acquisitions. At that time, CNOOC attempted to procure U.S. Unocal, but eventually fruitless visits encountered. - 18758

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