Africa Petroleum in the Multi-element Game

Africa possesses abundant petroleum resources, and the known petroleum reserve is up to 112 billion bbl, which accounts for about 10% of the world’s known petroleum reserve. It is estimated the daily output in 2006 will reach 11 million bbl. The increasing importance of Africa petroleum in international market has aroused extensive attention of international society. The petroleum imported from Africa takes 16% of the total import volume of US, in which half from West Africa’s Nigeria. China has imported 35.30Mt petroleum from Africa, which takes 30% of the total petroleum import volume. Chinese petroleum enterprises have participated in petroleum exploration in Africa since 1995 and have made certain achievements. It was proposed that China should enhance cooperation with Africa countries to acquire more petroleum.