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David Wei
Since October 2007, chief executive officer and executive director of Alibaba.com;
From November 2006 to September 2007, president of Alibaba.com and executive vice president of Alibaba Group;
From 2002 to 2006, president of B&Q China, a subsidiary of King
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Facts & Figures In China
The top three sources of oil for China are Saudi Arabia, Angola and Iran. Saudi Arabia became China's largest oil source by exporting 41.86 million tons in 2009, making up about 20 percent of the oil imported by China. By the end of 2009, the amount of crude oil that China imported from Saudi Arabia exceeded 1 million barrels per day, while the US, the largest importer of the country's oil before, imported less than 1 million barrels per day for the first time since more than 20 years.
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| China's CNOOC Eyes Big Deal In Africa |
 China National Offshore Oil Corp may pay up to $2.5 billion for Ugandan assets owned by Heritage Oil Plc, reported Monday’s Reuters.The sale process for the oil fields, which executives say contain around 2 billion barrels of oil, has been a competitive process between British, Italian and Chinese oil majors. On Friday, Italy's Eni SpA pulled out of a planned $1.5 billion purchase of Heritage Oil's 50 percent share of Ugandan Blocks 1 and 3A -- in which London-listed Tullow Oil Plc has preemption rights. Tullow and Heritage control three oil blocks that cover the Ugandan side of Lake Albert, but the explorers lack the resources to develop the project alone. Tullow has said it wants to sell the Heritage assets on to CNOOC. Heritage Oil said on Monday it will receive $1.35 billion on completion of the sale of its Ugandan assets. CNOOC said last week it aims to produce 275-290 million barrels of oil and gas equivalent (boe) this year, up from an estimated 226-228 million boe in 2009. 
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Latest China News
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