African deals may oust Westerners

02/20/2006
If India, China, and other developing world oil giants (DWOGs)increase investments in African countries, it could have several negative repercussions for Western companies doing business in Africa:• Prices on African assets likely would soar as Chinese and Indian bidders stepped up efforts to ensure access to prime resources. As African countries auction exploration licenses and engage foreign companies in lucrative partnerships with national oil companies, Chinese and Indian companies would pay top dollar and absorb large risks to gain access to these resources. This could be problematic for Western firms also focused on Africa as a major area of growth.Particularly pronounced wou...
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