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China in Africa: The Real Story

China's Oil Imports From Libya

Deborah Brautigam

Hat tip to Leo in Comments section
A Chinese student asked me today what China might learn from the Libya situation about the risks of investing in unstable countries. I mentioned that China's FDI investments in Libya are not large, although China does import oil produced in Libya. But how does China compare with other countries as a buyer of Libyan crude? A quick Google effort found the AP article below, which I have not verified with the source, the International Energy Agency.

Europe gets most of Libya's oil exports

By The Associated Press

Tuesday, February 22, 2011 at 12:55 p.m.

NEW YORK — Europe gets over 85 percent of Libya's crude exports. The rest goes to Asia, Australia and the U.S. Here's a breakdown of how much oil various countries import from Libya (in barrels per day) and the percentage of a country's total crude imports supplied by Libya.

-Italy: 376,000 (22 percent)

-France: 205,000 (16 percent)

-China: 150,000 (3 percent)

-Germany: 144,000 (8 percent)

-Spain: 136,000 (12 percent)

-United Kingdom: 95,000 (9 percent)

-Greece: 63,000 (15 percent)

-United States: 51,000 (0.5 percent)

-Austria: 31,000 (21 percent)

-Netherlands: 31,000 (2 percent)

-Portugal: 27,000 (11 percent)

-Switzerland: 17,000 (19 percent)

-Ireland: 14,000 (23 percent)

-Australia: 11,000. (2 percent)

(Source: International Energy Agency 2010 statistics)

The Associated Press