Slaking a thirst: In bed with the Middle East

China imports oil at a rate of nearly 4 million barrels a day; this strong demand has inevitably  placed constraints on its ability to diversify its outbound energy investments. Oil deals with countries like Angola and Kazakhstan notwithstanding, China remains tied to the Middle East. More than 40% of its oil comes from the region, with 21.6% from Saudi Arabia alone and 14.6% from Iran.

"There's no way they can rely on Central Asia," said Ben Simpfendorfer, chief China ...

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