6 Case study II
Although China and India import most of their oil from the Middle East, they are keen to expand and diversify their sources of supply by seeking oil investments in Africa, Southeast Asia and Central Asia, and also by exploring the construction of pipelines to supply oil and gas from neighboring states such as Myanmar and Kazakhstan (China). For both Chinese and Indian NOCs, Africa has been targeted in recent years as a potential site for investment.
6.1 The importance of Africa
Africa is believed to be one of the main growing sources of future global oil supply; Wall Street Journal predicted that by 2010 “West Africa will be the world's number one oil source outside of OPEC.”1 Africa's oil surplus has grown over the past ...