OPEC to strengthen China collaboration

时间：2007-11-19 07:56:02

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Nov. 19 - Oil exporting countries have expressed strong interest in trade and exploration with China even as they voiced concern that rising prices could weaken demand from the fast-paced economy.

 

Nigerian Energy Minister Odein Ajumogobia said his country plans to invest $5 billion next year for energy development and production, with $4 billion of that amount open to third-party investors1.

 

"China and Nigeria can deepen cooperation as huge business opportunities exist," Ajumogobia told China Daily over the weekend at the Third OPEC Summit hosted by Saudi Arabia, the world's biggest oil producer and largest source of imports for China.

 

Along with China's State-owned enterprises, the minister encouraged private enterprises to set up joint2 ventures with Nigerian businesses.

 

He said Chinese enterprises are good at oil exploration technology and infrastructure3 construction, adding that his country is also seeking partnerships4 with countries such as India and South Korea.

 

Imports from Africa currently account for more than 30 percent of China's imported oil. With coal being the major source of energy, less than 30 percent of the energy demand is met by oil.

 

Ajumogobia said current high oil prices, which jumped to nearly $100 a barrel this month, were the result of a number of factors such as refinery5 constraints6, the mortgage market turmoil7 in the US and the weak dollar.

 

"In the long run, the high prices might suppress demand it is OPEC's core function to maintain the equilibrium8 between supply and demand," the minister said.

 

Algerian Energy Minister Chakib Khelil, agreed: "We have seen slackening of demand in the US and China." But he said he believes oil prices would remain at current levels until the end of the first quarter next year and were unlikely to go over $100 a barrel.

 

OPEC holds that China is not the driving force behind current high prices despite the fact that it forecasts Chinese and Indian demand to contribute significantly to the 40 percent demand growth by 2030.

 
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1 investors dffc64354445b947454450e472276b99     
n.投资者，出资者( investor的名词复数 )
参考例句：
  • a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
  • a cash bonanza for investors 投资者的赚钱机会
2 joint m3lx4     
adj.联合的，共同的；n.关节，接合处；v.连接，贴合
参考例句：
  • I had a bad fall,which put my shoulder out of joint.我重重地摔了一跤，肩膀脫臼了。
  • We wrote a letter in joint names.我们联名写了封信。
3 infrastructure UbBz5     
n.下部构造，下部组织，基础结构，基础设施
参考例句：
  • We should step up the development of infrastructure for research.加强科学基础设施建设。
  • We should strengthen cultural infrastructure and boost various types of popular culture.加强文化基础设施建设，发展各类群众文化。
4 partnerships ce2e6aff420d72bbf56e8077be344bc9     
n.伙伴关系( partnership的名词复数 )；合伙人身份；合作关系
参考例句：
  • Partnerships suffer another major disadvantage: decision-making is shared. 合伙企业的另一主要缺点是决定要由大家来作。 来自英汉非文学 - 政府文件
  • It involved selling off limited partnerships. 它涉及到售出有限的合伙权。 来自辞典例句
5 refinery QiayX     
n.精炼厂，提炼厂
参考例句：
  • They built a sugar refinery.他们建起了一座榨糖厂。
  • The purpose of oil refinery is to refine crude petroleum.炼油厂的主要工作是提炼原油。
6 constraints d178923285d63e9968956a0a4758267e     
强制( constraint的名词复数 )； 限制； 约束
参考例句：
  • Data and constraints can easily be changed to test theories. 信息库中的数据和限制条件可以轻易地改变以检验假设。 来自英汉非文学 - 科学史
  • What are the constraints that each of these imply for any design? 这每种产品的要求和约束对于设计意味着什么？ 来自About Face 3交互设计精髓
7 turmoil CKJzj     
n.骚乱，混乱，动乱
参考例句：
  • His mind was in such a turmoil that he couldn't get to sleep.内心的纷扰使他无法入睡。
  • The robbery put the village in a turmoil.抢劫使全村陷入混乱。
8 equilibrium jiazs     
n.平衡，均衡，相称，均势，平静
参考例句：
  • Change in the world around us disturbs our inner equilibrium.我们周围世界的变化扰乱了我们内心的平静。
  • This is best expressed in the form of an equilibrium constant.这最好用平衡常数的形式来表示。

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