China oil firm buys into Nigeria

[lovuian]

http://news.bbc.co.uk/2/hi/business/4594058.stm

CNOOC, one of China's largest state-run oil and gas producers, has agreed to buy a stake in a Nigerian offshore oil and gas field for $2.3bn (£1.3bn).

It will buy a 45% stake in the license covering the OML 130 field, which is owned by South Atlantic Petroleum and is in deep water near the Niger Delta.

CNOOC is hunting overseas oil and gas assets to supply its domestic market.

China's appetite for commodities such as oil and gas is second only to that of the United States.

more...

Bush and Cheney must be having a fit...

[PDJane]

1. China has the cash.........

And the US is going to have to get used to not being the only big kid on the block.

[lovuian]

3. Ya our cash we sent them!!!

I think Bush got an eye ful in China sitting around all those Chinneese generals...

[gulfcoastliberal]

2. Jockying for position for the inevitable petroleum wars...

Lets all hope nuclear weapons are not involved. After all, It'd ruin the crude. What a short-sighted rapacious species we are. Worship nothing but the sacred quick buck, consequences be damned.

[brainshrub]

4. DEAR MR CHU, YOU ARE VERY HONEST

I HAVE A BUSINESS DEALING THAT I REQUIRE HIGH INTEGRITY. IF YOU SEND ME YOUR BANK ACCOUNT NUMBERS I WILL TRANSFER 100,000,000,000,000,000,000,000,000,000,000.00 YEN INTO YOUR ACCOUNT AND WE WILL BUY AN OIL FEILD.