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The Jamestown Foundation: China Makes Strides in Energy "Go-out" Strategy - 0 views

www.jamestown.org/...single

china goabroad GOINGOUT yadkin Alcoa

shared by Yadkin River on 19 Dec 11 - No Cached
  • Yet this new strategy is taking the shape of a formula of “loans-for-energy,” which involves a mix of state-owned and private actors.
  • hese complex arrangements indicate that China’s expansion of overseas-energy assets is a long term goal and that it is increasingly interested in securing Chinese outward investments from its international partners.
  • China’s new venture with Kazakhstan deviates from the “oil-for-loans” formula. The $5 billion loan from CNPC will give Chinese oil firms a 50 percent stake in the joint purchase of MangistauMunaiGaz (MMG), Kazakhstan’s biggest private oil and gas company (Reuters, April 17). This deal is more like a “loan-for-oil assets” transaction than one of “loan-for-promised-oil supply," which characterizes the previous three contracts, and CNPC will receive half of the oil that will be produced by the jointly owned MMG (the other 50 percent will be owned by the Kazak state-owned firm KazMunaiGas).
  • ...5 more annotations...
  • his model is more in line with the Chinese government’s preference for financing acquisitions, since it gives Chinese NOCs direct ownership of resources. In contrast to the other three deals, Chinese NOCs could only extend loans to foreign NOCs for guaranteed oil supplies or possible special access to future exploration projects.
  • Put more of China’s $2 trillion foreign reserves into hard assets -- Zhang Guobao, vice minister of the National Development and Reform Commission and head of the NEA, had pointed out in a signed article published in December 2008 in the People’s Daily (a strong indication of being authoritative statements of government policy) that China should seize the timing of the oil price slump on the  international market to increase imports and Chinese enterprises are encouraged by the government to expand overseas (China Daily, March 9).
  • he global economic crisis has presented China with a rare opportunity to trade its abundant foreign currency reserves for oil, mineral and other resources around the world. China now has roughly $2 trillion in foreign exchange, ranking number one in the world, and many state firms are also flush with funds (The Associated Press, February 18). Beijing is considering setting up an oil stabilization fund to support purchases of overseas resources by Chinese oil companies. The plan was submitted at NEA’s National Work Conference on Energy held in March 2009 (Xinhua News Agency, March 2).
  • The recent large energy activities are not the first time Chinese NOCs have entered “loans-for-oil” deals. In 2004, Chinese banks financed Rosneft’s acquisition of Yuganskneftegaz with a $6 billion loan and CNPC received a pledge of long-term supply contracts via rail in exchange (Platts Community News, February 19)
  • These “loans-for-oil” activities will remain an active component of the Chinese overseas resource acquisition strategy given the current global economic and energy conditions.
Yadkin River

Waiting for the floodgates to open - 0 views

www.smh.com.au/...es-to-open-20110909-1k1uc.html

china going out alcoa foreign investment

shared by Yadkin River on 19 Dec 11 - No Cached
  • Each working day the People's Bank of China buys more than $US2 billion ($1.88 billion) worth of foreign currency from Chinese businesses and invests it overseas. China's outbound direct investment - the portion that matters to Australian takeover targets - has increased 30-fold in seven years. ''We've had something like 260 projects approved since November '07, $65 billion worth,'' says Frances Adamson, Australia's new ambassador in Beijing.
  • ''If China follows the typical pattern of an emerging economy, it will ship $US1 trillion to $US2 trillion in direct investment abroad by 2020.''
  • hina's "go out" investment strategy became policy in 1999 and began to get noticed around the world about 2007 when China's foreign exchange reserves began to break records. But the strategy was really conceived in the 1970s and born in the 1980s in collaboration with Australia.
Yadkin River

News Update: Aluminum Corp. of China Ltd. to Invest in Coal & Power Producers - YouTube - 0 views

www.youtube.com/watch

ALCOA aluminum coal producers chinese

shared by Yadkin River on 20 Dec 11 - No Cached
  • Yadkin River on 20 Dec 11
     
    Chinalco to invest in Coal and Power Producers
Yadkin River

Ohio apparently ruled out for steel mill | cleveland.com - 0 views

blog.cleveland.com/..._apparently_ruled_out_for.html

shared by Yadkin River on 23 Dec 11 - No Cached
  • But the group wasn't able to get a handle on its electricity costs in Ohio because the state has yet to decide how rates will be regulated in the future, said David Stickler, managing director of Global Principal Partners LLC, which is working with Steel Development. He said nobody was able to say what the plant's power costs would be over the next five to seven years.
    • Yadkin River
      Yadkin River on 23 Dec 11
       
      What.... 5 to 7 years... ALCOA wants 50 years...Come On.........
Yadkin River

COLUMN-China's Great Wall of Money? Not the sovereign fund | Reuters - 0 views

in.reuters.com/...column-cic-idINSP7136020071205

shared by Yadkin River on 23 Dec 11 - No Cached
  • Mere rumours that China Investment Corp. (CIC) could enter the bidding for Rio Tinto (RIO.AX) (RIO.L) sent the Australian miner's stock higher last week, and talk that it might make investments in Japan boosted the Nikkei index .N225 and caused a bounce in the value of the yen.
    • Yadkin River
      Yadkin River on 23 Dec 11
       
      Rio was purchased Chinalco and alcoa
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