Timeline on Chinese investments in Latin America’s energy and commodities sector since 2005
Jan. 2005
– Cuba:
China’s oil and gas giant Sinopec Corp. signs an agreement with Cuba’s state-run Cubapetroleo (Cupet) to jointly produce oil on the Caribbean island.
China’s state-owned Minmetals is investing $500 million in a joint venture to produce 68,000 tonnes a year of ferro-nickel in eastern Cuba.
Feb. 2005
– Chile:
China’s Minmetals Corporation signs an agreement to invest an initial $550 million, which could eventually rise to $2 billion, to set up a joint venture with Chilean state copper company Codelco.
Sept. 2005
– Bolivia:
China’s Shengli International Petroleum Development Co. Ltd. signs a framework pact with state-run Yacimientos Petroliferos Fiscales Bolovianos to invest $1.5 billion over 40 years in Bolivia’s onshore oil and gas sector.
—Ecuador:
Chinese-led consortium Andes Petroleum, which includes China National Petroleum Corp. and Sinopec group, buys Canada-based Encana’s oil and pipeline assets in Ecuador for $1.42 billion.
June 2007
– Peru:
Peru Copper Inc. agrees to be bought by state-owned Aluminum Corp. of China Ltd. in a friendly deal worth C$840 million ($792 million) in cash, the Canada-headquartered company says.
May 2009
– Brazil:
China Development Bank announces that it will lend $10 billion to Petrobras, the state-owned Brazilian oil company, in exchange for a guaranteed supply of oil over the next decade.
July 2009
– Ecuador:
China forges a $1 billion loan-for-oil deal with South American OPEC member Ecuador.
Sept. 2009
– Venezuela:
Venezuela signs a $16 billion investment deal with China over three years to raise oil output by several hundred thousand barrels per day in the OPEC member’s Orinoco belt.
Oct. 2009
– Brazil:
Chinese steel and iron ore group Baosteel proposes to pay 1 billion pounds ($1.6 billion) for a 30 percent stake in Anglo American’s huge Minas Rio iron ore mine in Brazil.
March 2010
– Argentina:
CNOOC purchases a 50 percent stake in Argentina’s Bridas Holdings for $3.1 billion.
Panama is next..
