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Tue May 29, 2012, 08:48 AM

China paying billions for oil deals in the Americas [View all]

NEW YORK (CNNMoney) -- Eager to feed its growing energy appetite, China's worldwide buying binge for oil and other energy assets is spreading to North and South America.

Yet most analysts say China's newfound interest in American energy may actually be good for U.S. consumers, as it will likely increase oil and gas supplies worldwide and possibly lower prices.

China is also said to be interested in building a pipeline to carry 300,000 barrels a day of Colombian oil to the Pacific Coast, according to a recent Eurasia Group note.

These deals come on the heels of some other major energy acquisitions.

They include CNOOC (CEO)'s purchase of a $2 billion stake in Chesapeake's Texas oil fields in 2010 as well as CNOOC's $2 billion purchase of Canadian oil sands operator OPTI Canada in 2011.



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Reply China paying billions for oil deals in the Americas [View all]
n2doc May 2012 OP
lib2DaBone May 2012 #1
RKP5637 May 2012 #2