Central+African+Republic+Petroleum

Executive Summary:
Unlikely that China will gain Petroleum imports from Central Africa Republic, due to decreases in petroleum exports and lack of proved reserves, oil production, crude oil production, and refinery capacity.

Discussion:
Shaanxi Yanchang Petroleum (Group) Co. Ltd., a Shaanxi Province-based oil producer, announced on July 27 that it has signed an agreement with China Poly Group Corp. to cooperate on oil and gas development in the Central African Republic. According to the announcement, Yanchang Petroleum will hold a controlling interest in the cooperative exploration of the Block-B Oil and Gasfield. The company did not disclose information regarding the block's potential oil and gas reserves.US Energy Information Administration reports Central African Republic has zero proved oil reserves, zero refinery capacity, and negative 2.95 estimated petroleum net exports.

.