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China’s oil trade with Africa is dominated by an opaque syndicate

China’s oil trade with Africa is dominated by an opaque syndicate

Written by The Queensway syndicate and the Africa trade Tuesday, 23 August 2011 22:51

WHEN the man likely to become China’s next president meets an African oil executive, you would expect the dauphin to dominate the dealmaker. Not, though, with Manuel Vicente. On April 15th this year the chairman and chief executive of Sonangol, Angola’s state oil firm, strode into a room decorated with extravagant flowers in central Beijing and shook hands with Xi Jinping, the Chinese vice-president and probable next general secretary of the Communist Party. Mr Vicente holds no official rank in the Angolan government and yet, as if he were conferring with a head of state, Mr Xi reassured his guest that China wants to “strengthen mutual political trust”. more>>>

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