July 17, 2009
More Angola Oil for China in Marathon Sale
Marathon Oil, one of America's oldest and most innovative oil companies, will sell 20% of Angola block 32 to the Chinese oil majors CNOOC and Sinopec in a deal valued well over $1 billion (US). The offshore block already has many successful exploration wells. Angola is a leading supplier of crude to China....
Labels: energy security, peak oil
July 15, 2009
Chinese Mergers & Deals for July 15, 2009
Via Reuters:
MERGERS/DEALS
** China's Ministry of Commerce played down reports that it is at odds with the economic planning agency over a controversial deal for a little-known Chinese company to buy GM's Hummer unit.
** CNOOC, PTT PCL, ENI, and Osaka Gas are among companies that submitted indicative bids for a 20 to 35 percent stake in InterOil's liquefied natural gas project in Papua New Guinea, sources said.
** ZTE Corp said it had won 34 percent of China Mobile Communications Corp's third-round 3G network expansion tender.
Labels: business news
CNOOC Offers 17 Offshore Blocks to Foreign Cooperation
China National Offshore Oil Corp. (CNOOC) is offering 17 blocks for joint foreign development. Most of the offshore blocks are in the east South China Sea in the Pearl River basin (image at left shows locations).
The head of CNOOC, Fu Chengyu, told Dow Jones the company was interested in cooperation "instead of mergers and acquisitions" in response to the reports that the company might buy all of Repsol's Argentina assets....
Labels: foreign investment, oil, peak oil
July 14, 2009
1st USA-China "Strategic & Economic Dialogue" Set for July 27-28
The new fangled US-China Strategic AND Economic Dialogue, the Obama administration's twist on the W and Hu founded Strategic Economic Dialogue, will meet July 27 and 28 in Washington, DC, and include a joint press conference on its final day. The group will include Treasury Secretary Geithner and Secretary of State Hillary Clinton for Washington and Dai Bingguo and Wang Qishan for Beijing....
Labels: foreign relations, strategic dialogue
ChangAn Auto to Build Cars in South Africa
Chang'an Auto or Chana will build an auto plant in South Africa and invest approximately $80 million (US dollars). The plant will be the final phase of a multi-phase plan to capture at least 4% of South Africa's car market. The car assembly plant would be the first such venture in 40 years in South Africa. Currently the company imports cars in a joint venture with a South African importer and has around 20 dealerships....
Labels: chinese autos, foreign relations, free trade
July 13, 2009
CHL, CHU Choose ERIC for 2G/3G Expansion
Swedish telecom major Ericsson (ERIC) will supply equipment and services to China Mobile (CHL) and China Unicom (CHU) in agreements valued at $1.7 billion (US). China Mobile will roll out using China's homegrown TD-SCDMA standard and China Unicom will expand coverage and services for GSM/WCDMA.....
Labels: chinese stocks, Telcom
China Gets Ecuador Oil in Multi-Billion Dollar Deal
PetroChina will extend a billion (US) dollars in credit to Ecuador and anothher billion in a 4 year security to be arranged according to Dow Jones reports. The deal would give the Chinese oil major around 96,000 barrels per day of crude. Additionally, a Sino-Ecuador joint venture - SinoHydro-AndesJV - will build a hydroelectric plant valued at $2 Billion.....
Labels: energy security, peak oil
July 10, 2009
EU Backs Down on Chinese Steel Pipe
Word from the G8 summit is the European Commission will end the anti-dumping duties on steel pipe products from China imposed in April. A similar move from the Obama administration is doubtful as the Democratic Party yields to the demands of American steel unions and companies....
Labels: free trade, steel
USA-China Trade Up in June
The pace of decline in Chinese exports and imports overall continues to slow and trade with the USA was up. America's trade deficit with China increased by almost a billion US dollars to $17.5 billion for the month of June....
Labels: chinese trade, foreign trade
July 09, 2009
Chinese Biotech Firm Readies Swine Flu Vaccine
Sinovac Biotech (symbol SVA) a bio pharmaceutical based in Beijing has been given the green light to prepare is brand name vaccine for H1N1 virus, PANFLU. The company began work on the vaccine just a month ago when it received the virus from the USA. The Chinese central government will stockpile the vaccine in time for the fall/winter flu season....
Labels: chinese stocks
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