Investment Environment of Oil and Gas Resources in Africa

With rapid growth of oil demand in China, oil supply and demand gap increases day by day and degree of dependence upon petroleum import goes up. Under the sever situations, implementing Going out strategy and actively participating in the competition and cooperation of world oil resource market have become the inevitable choice. Africa which has abundant oil and gas resources has become not only an important production region but also an important expert region after Middle East and Latin America. However, in recent years, some emerging nations such as Nigeria and Algeria are gradually adjusting foreign policy to merely guarantee national interests and paying more attention to promote development of national oil and gas industries, which brings great challenges to China’s Going out strategy. Even so, Africa is still considered a region with abundant oil and gas resources and relatively stable regional station. Strengthening cooperation with Africa in oil and gas resources therefore becomes a wise choice under current situation.