Back To List
Africa is new frontier for oil and gas exploration, presenting China with new opportunities, challenges
With the prospect of more oil being discovered in Africa - and riding on the thriving relationship between China and Africa - Chinese companies are looking to enhance their investment in the continent's oil and gas sector.
Through the Belt and Road Initiative, China is encouraging enterprises to invest overseas, and Africa's potentially lucrative yet unexploited oil and gas sector offers an opportunity to do just that.
Already, three major State-owned companies - China National Offshore Oil Co, an oil and gas producer; PetroChina, the largest oil and gas producer and distributor in China; and China Petrochemical Corp, known as Sinopec, which is primarily a refining company - are actively investing in Africa.
