A new report on the activities of Asian oil companies in Africa exposes the flaws in many general assumptions about Asian engagement with Africa. Thirst for African Oil: Asian National Oil Companies in Nigeria and Angola analyses the impact of these companies in the two leading oil producing countries in sub-Saharan Africa, and contrasts the stability and policy consistency that are features of the Angolan system with a more insecure and unstable system in Nigeria.
The report finds that fears in Western capitals about an Asian takeover in the Nigerian and Angolan oil sectors are ‘highly exaggerated’ - the oil majors still dominate production and hold the majority of reserves. Indeed, in Angola, there is growing fatigue among officials about the West’s fixation with China’s engagement with Angola.
Thirst for African Oil concludes that neither Nigeria nor Angola fits the stereotype of weak African states being ruthlessly exploited by resource hungry Asian tigers. In Nigeria’s case, a cash-hungry political class sought to profit from its Asian partners’ thirst for oil whilst in Angola the relationship with China was nurtured in a pragmatic, disciplined way to the mutual advantage of both countries.
The report also compares the experiences of Chinese companies with those of India, South Korea and Japan and assesses the growing competition between China and India where China’s deeper pockets have put a brake on India’s ambitions.
+ Full Report (PDF; 1.7 MB)
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