China Is Looking To Nigeria For Crude Oil And Has Been Trying To Win Favor With The Nation By Investing In The West African Country

China, the world’s second-largest oil consumer behind the United States and the largest global energy consumer, is looking to Nigeria as a way to diversify its sources of much-needed crude oil.

Oil-rich Nigeria has an estimated 37.3 billion barrels of proven crude oil reserves as of 2011, according to the “Oil & Gas Journal,” something that makes it appealing to China.

“It’s a long-standing policy of China to try to gain access to both energy and other natural resources around the world, but heavily in Africa,” Charles Ebinger, director of the Energy Security Initiative at the Brookings Institution in Washington, D.C., said.

Full article: China Is Looking To Nigeria For Crude Oil And Has Been Trying To Win Favor With The Nation By Investing In The West African Country (International Business Times)

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