Saturday, June 27, 2009

China's unquenchable thirst for oil

June 27, 2009, Dr. Wenran Jiang, Mactaggart Research Chair at the China Institute and Associate Professor of Political Science, was quoted in the Global and Mail on Sinopec's attempt to acquire Canadian-based oil company Addax for more than $8 billion Canadian dollars.

Dr. Jiang, who maintains close ties to many major Chinese energy firms, said in the paper that oil companies around the world are looking for investment from China. But so far, he said, Canadian-based firms are more likely to sell offshore assets to the Chinese than their domestic holdings.

You can read the article here.

Despite recession, the Chinese are aggressively pursuing energy assets.
Copyright: The Globe and Mail

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