Thursday 1 August 2013

China needs Gulf oil regardless of politics | GulfNews.com

China needs Gulf oil regardless of politics | GulfNews.com:

"
China is taking a close interest in the Arab world as a source of its oil. It cares little about the politics of the region and cares less about who is in charge of Syria, but it desperately wants secure supplies of oil since 51 per cent — an astonishingly high quantity — of all its crude imports come from the Middle East.
It must be worrying for the Chinese leaders that their vital plans for sustained economic growth depend on imported energy. It worries them deeply that China’s energy imports grew in 2012 to satisfy both the increase in domestic demand and the drop in domestic oil production.
The new Chinese leadership is caught in this unfortunate vice which limits China’s options to find new oil suppliers and forces them to maintain close relations with their Middle Eastern partners, as they are building a network of land and maritime trade routes that brings China closer to the Gulf and Africa."

'via Blog this'

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