China wants up to 40 per cent of its oil and gas imports to come from Africa in the next 5-10 years, a Chinese industry official said.

“We wish to increase the imports, the oil and gas from Africa from 35 to 40 per cent in the next five to 10 years,” Zhiming Zhao, executive president of China Petroleum and Petro-Chemical Industry Association told reporters at an energy conference in Cape Town.
China has embarked on a relentless investment drive in Africa to feed its economy, particularly in mining, oil and gas.
Despite objections to China’s human rights record and talk of a colonialist agenda from critics, there have been a steady flow of big deals since President Hu Jintao announced a drive to boost relations with Africa in 2004.
China imported more than 30 million tonnes of oil from Africa in 2005, about 30 per cent of its total oil imports.
“We have a very good relationship with Africa and in future we wish to find more places to put our investments,” Zhao said of increased Chinese-African cooperation.
Zhao said China had invested some $30 billion in Africa’s oil and gas industries.
Among the Chinese investments in Africa’s oil and gas sectors, Zhao mentioned Egypt, where China Honghua set up a joint venture with the Egyptian Ministry of Oil to produce drilling rigs.