By Matthew Green
Published: January 23 2008 16:28 | Last updated: January 23 2008 16:28
Conventional wisdom suggests that China’s energy companies are marching across Africa, shoving aside established majors and grabbing huge oil reserves with the help of bottomless funding from Beijing.
A closer look reveals a more nuanced picture: China’s giants have won only a fraction of the continent’s crude, state backing has shown its limits, and they are perhaps more image-conscious than many people think.