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The China National Petroleum Corp. (CNPC) announced June 3 that it secured a $5 billion oil deal with the government of Niger on June 2. The deal calls for the development of the Agadem oil field, and probably extends CNPC control over two other oil fields in the African country. While Niger is an improbable place for a large oil project, China’s need to secure oil supplies — combined with oil prices in excess of $120 per barrel — means China can take the risk in Niger. In return for the more than 14,000 square mile Agadem concession, CNPC stated it will construct an oil refinery capable of producing 20,000 barrels per day (bpd) in Zinder, Niger, and will construct a 1,240-mile-long pipeline to export crude from the Agadem field.
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