China Wants More Latin American Oil

WorldEnergyNews.com
Friday, April 25, 2014

China might be slowing economically but it still wants to buy more oil from Latin America and invest in infrastructure in the region, with a presidential visit planned for July, Chinese and Brazilians officials said on Friday.

As host of the 2014 soccer World Cup, Brazil is hoping Chinese President Xi Jinping, who is known to be a fan of the sport, will attend the final game on July 13 in Rio de Janeiro's legendary Maracaná stadium.

Brazilian President Dilma Rousseff recently said Brazil's partners in the BRICS group of leading emerging nations asked for the summit that she will host be rescheduled for two days after the World Cup so their leaders could attend.

Chinese Foreign Minister Wang Yi, on a one-day visit to Brasilia on a Latin American swing, did not confirm Xi would accept Brazil's invitation to attend the World Cup final.

Wang reinforced China's interest in setting up a fund to increase investment in infrastructure that is lacking in Latin America, where China gets much of its raw materials, such as iron ore, oil and soy beans.

"There is great potential for further oil cooperation with Latin America. We will like to set up long-term partnerships, especially with Venezuela and Brazil," Wang said at a news conference.

Brazil's Foreign Minister Luiz Alberto Figueiredo said the BRICS nations expect to announce the capitalization of a BRICS development bank at the leaders' summit to be held in the northern Brazilian city of Fortaleza in mid-July.

BRICS nations are moving to create their own bank and fund to challenge the influence of other groups under the control of developed nations, such as the International Monetary Fund.

Both China and Brazil want to see the U.S. Congress approve reforms that other nations agreed to in 2010 that would increase the IMF's lending capability and increase the influence of China and Brazil and other growing economies at the IMF.

(Reporting by Alonso Soto and Anthony Boadle; Editing by Lisa Shumaker)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Energy

Daewoo Shipbuilding: $1.4 bln order Cancelled

Cancelled order part of Statoil's Bressay project. South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd on Friday said a 1.58 trillion won ($1.41 billion)

Asia Tankers-VLCC Rates Falter on Oil, Tanker Supplies

MidEast, West Africa rates hit 11-month low. Freight rates for very large crude carriers (VLCCs), which hit an 11-month low this week, could slide further next

Gener8 Maritime Net Income Up 91%

Announcing its financial results today for the three and six months ended June 30, 2016 Gener8 Maritime, Inc. reported net income of $38.0 million, or $0.46 basic and diluted earnings per share,

News

Global Maritime Introduces New DP Policies & Procedures

Global Maritime Consultancy & Engineering has introduced a new set of policies and procedures to support its Dynamic Positioning (DP) activities. The new procedures

Daewoo Shipbuilding: $1.4 bln order Cancelled

Cancelled order part of Statoil's Bressay project. South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd on Friday said a 1.58 trillion won ($1.41 billion)

Asia-N.Europe Box Rates Jump 58 pct

Freight rates for shipping containers from ports in Asia to Northern Europe jumped 58 percent to $1,125 per 20-foot container (TEU) in the week ending Friday, a

People in the News

Crew Kidnapping Rising in Gulf of Guinea - Dryad

In contrast to the substantial numbers of reported incidents across Southeast Asia and the Indian Ocean in recent years, maritime crime now appears to have stabilised

Damen PSV for Wilson Sons Ultratug Offshore

Wilson Sons Ultratug Offshore, a joint venture between Wilson Sons and the Chilean maritime services provider Ultramar, has taken delivery of a Damen PSV 5000.

Gener8 Maritime Net Income Up 91%

Announcing its financial results today for the three and six months ended June 30, 2016 Gener8 Maritime, Inc. reported net income of $38.0 million, or $0.46 basic and diluted earnings per share,

Government Update

China, Russia Navies to hold S. China Sea Drills

China and Russia will hold "routine" naval drills in the South China Sea in September, China's defence ministry spokesman Yang Yujun told a news conference on Thursday.

India Govt, Cochin Shipyard Pact on FY17 Growth Targets

Cochin Shipyard Limited (CSL) has entered into a Memorandum of Understanding (MoU)  with the government of India for the ongoing fiscal under which targets agreed

Cambodia Urged ASEAN to Avoid Words That Escalate Tension

Cambodia advised a grouping of South East Asian nations to avoid using words that "would escalate tension between China and the Philippines" in a weekend statement,

 
 
Maritime Contracts Maritime Standards Navigation Pipelines Pod Propulsion Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1302 sec (8 req/sec)