Arab Today, arab today china pleads to libya to protect beijing oil
Last Updated : GMT 11:38:26
Arab Today, arab today
Arab Today, arab today

China pleads to Libya to protect Beijing oil

Arab Today, arab today

Arab Today, arab today China pleads to Libya to protect Beijing oil

Beijing - Arabstoday

China Tuesday urged Libya to protect its investments and said their oil trade benefited both countries, after a Libyan revolutionary warned that Chinese oil companies could lose out after the ousting of Muammar Gaddafi.The deputy head of the Chinese Ministry of Commerce\'s trade department, Wen Zhongliang, was responding to a question about the official at the Libyan revolutionary-run oil firm, AGOCO, who said Russian and Chinese firms could lose out on oil contracts for failing to back the rebellion against Gaddafi. \"China\'s investment in Libya, especially its oil investment, is one aspect of mutual economic cooperation between China and Libya, and this cooperation is in the mutual interest of both the people of China and Libya,\" the commerce official Wen told a news conference. \"We hope that after a return to stability in Libya, Libya will continue to protect the interests and rights of Chinese investors and we hope to continue investment and economic cooperation with Libya,\" said Wen. If acted upon, the warning from Abdul Jalil Mayouf, an information manager at AGOCO, would be a headache for China, the world\'s second-biggest oil consumer, which last year obtained 3 per cent of its imported crude from Libya. But his warning may not represent the position of an emerging, post-Gaddafi government in Tripoli. Beijing has wooed Libyan rebels, and there is sure to be a cacophony of voices among opposition groups, said Yin Gang, an expert on the Arab world at the Chinese Academy of Social Sciences in Beijing.\"This was one individual\'s opinion. I can say in four words: They would not dare; they would not dare change any contracts,\" said Yin. He said Chinese companies have relatively few investments in Libya, where Western companies were favoured even under Gaddafi in recent years.\"Libya is still in a state of chaos and hasn\'t formed a government. There are certainly different views among the rebels,\" he added. The rebel official\'s warning nonetheless showed the tricky political terrain facing China in Arab countries emerging from popular insurrections, said Ben Simpfendorfer, managing director of Silk Road Associates, a Hong Kong-based consultancy that specialises in business between China and the Middle East.\"China was unusually quick to support to the NTC,\" said Simpfendorfer, referring to the National Transitional Council, the main rebel group at war with Gaddafi. \"Relative to China\'s typical foreign policy response, that was quite important, but relative to what Europe and the US did, that falls short. So I think they will struggle.\" China shipped in roughly 150,000 barrels per day of crude oil from Libya last year through Unipec, the trading arm of Asia\'s top refiner Sinopec Corp that holds the long-term supply contract. That amounted to about one tenth of Libya\'s crude exports. \"It\'s not Saudi Arabia, but it\'s not to be sneezed at,\" said Simpfendorfer. The Libyan embassy in Beijing yesterday had switched to using the red, black and green flag favoured by the revolutionaries. Any staff inside were not picking up phone calls. \"Even if Chinese companies fail to sign oil contracts with the new Libyan government, there is not much impact on China\'s crude imports,\" said a Beijing-based industry official. From / Gulf News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china pleads to libya to protect beijing oil Arab Today, arab today china pleads to libya to protect beijing oil

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china pleads to libya to protect beijing oil Arab Today, arab today china pleads to libya to protect beijing oil

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Taxi! Transport gets an overhaul

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Turkey warns of 'security' steps

GMT 12:17 2017 Sunday ,24 September

Turkey warns of 'security' steps
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:11 2017 Saturday ,23 September

Doctor provides advices to families

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday