CNOOC eyes investments in Uganda's US$6 billion oil projects

CNOOC eyes investments in Uganda's US$6 billion oil projects

The China National Offshore Oil Corp (CNOOC) has reportedly expressed interest in investing in Uganda's oil refinery and a crude export pipeline, two projects which are expected to cost more than US $6 billon. While a number of joint venture firms are involved in developing Uganda’s oil fields, CNOOC is first to express interest in these two projects, according to Chinese state run media.

David Nealis President of Ceres Ltd

Africa continues to be one of the most important regions for Chinese to source commodities; I believe we will see a shift to more deals involving commodities between China and Russia & the USA in the near future.

China, the world’s 2nd largest economy, continues to be the most important market for companies looking for growth and Chinese companies continue to globalize by investing and selling their products in new markets; what is your company’s strategy for engaging China?

Futures and Options Risk Disclosure
Trading futures and options involves the risk of loss. You should consider carefully whether futures or options are appropriate to your financial situation. You must review the customer account agreement and risk disclosure prior to establishing an account. Only risk capital should be used when trading futures or options. Investors could lose more than their initial investment. Past results are not necessarily indicative of futures results. The risk of loss in trading futures or options can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.