China Expands Oil Pipeline Projects to Libya
Date: Monday, March 26, 2007
With the aim of expanding abroad, China National Petroleum Corp.’s (CNPC’s) pipeline bureau has signed a contract for a 7.7-km crude oil pipeline in Libya. An official from CNPC explained that although the Libyan pipeline is short, being assigned to undertake it opens up new opportunities in the North African country.
Chinese oil companies have been increasing their foreign presence in an attempt to secure new oil and gas resources for the country’s booming economy. The Chinese government announced this month that tax breaks and other incentives will be provided for companies investing in Libya’s oil and gas industry.
Get the LATEST updates from the African oil & gas industry delivered straight to your Inbox by signing up to our free weekly electronic newsletter. Each issue features all the upstream, downstream, and political news from across the continent as well as an executive calendar, corporate announcements, and technology developments.