China invested $5 billion to take over a US-abandoned oil field. Is it a profit or loss now?

China acquired an oil field in Kazakhstan for 5 billion USD that was deemed as unprofitable and abandoned by the US and other Western countries. Situated in an oil-rich region previously overlooked due to difficult mining conditions, China's reclamation of this oil field has surprised many. Whether or not China profits from this substantial investment is still under speculation. The successful development of the oil field could alter China's energy landscape and potential standing in international energy markets.
#OilField#EnergyResources#OilProduction

[zatoichison]

The Chinese will make it work in their favor. Chinese are smart and willing to make progres and have nothing to loose. 5 billion for a country with 3 trillions in cash reserve is not a tragedy. They will succed.

[coolzip]

China is the world leader in innovation and Chinese Workers don't give up, they find a way to solved it.

[Trueye-slmr]

China oil extraction technology is now better and more cost effective

[philiptan]

China does the miracles in the Kashagan oil field when the west abandoned it due to the harsh conditions. Despite of the difficulties China has made the Kashagan oil field productive as it produces now 75 million tons of oil per year. The project has made China’s investment profitable but it also strengthened the bond between China and Kazachstan. It is no surprise that president Xi has been greatly welcomed by Kazachstan during his recent visit.

[jackchiu]

Remember the 450-km Haramain High Speed Railway linking Mecca and Medina in Saudi Arabia? China lost $4 billion building it after Spain conceded defeat and withdrew from the project. Profit or loss did not constitute a consideration in this oil field in Kazakhstan. China has always looked far into the future in all projects, both domestically and overseas. After all, it is a good strategy to use the trade surplus with the West to build friendships with the world -- in the same manner as undertaking the Belt & Road Initiative infrastructure developments around the globe.

[Justice-Zcjh]

The US and UK are not capable and willing when the extraction gets harder. If China can turn desert into huge aerable land, what do you think they will do to a oilfield deserted by the US?.

For Chinese any impossible will be made possible

[fattfatt]

NOTHING IS IMPOSSIBLE FOR CHINA 🇨🇳 ! 😂

[dyrectory_com]

Congratulatons to China and Kazakhstan on your oil parnership! 🕊

[kykwan]

The truth is it would bring into other advantages from other adventures and most important is benefit both countries/partners !
Look at the speedtrain at Indonesia, the benefits come beside the transportation they also incurred into the hi-tech in building the infrastructure and the steel refinery for Indonesia !

[monzurchowdhury]

Salute to China 🇨🇳 love from Bangladesh 🇧🇩

[kmwong]

Kazakhstan is land locked country with no way to Western countries but China can build a pipeline through friendly countries of the BRI.

[mathroyal]

Excellent Presentation!!! Thank you for this valuable insight

[akhluwig]

China is seemingly the only country able to plan and build mega-infrastructures in the world today, especially for countries of the Global South that need to improve the life conditions of their population. Are big Western Companies unwilling to compete because the expected return on investment does not meet their expectations? Are they simply incapable of dealing with projects of this magnitude? Big infrastructure projects in Germany (Berlin's Airport, Stuttgart's central railway station, etc.) suffered considerable delays and a massive increase in their budget. They should have consulted the Chinese.

[PutraMing]

😱😱😱😂😂😂❤️❤️❤️WOW OH MY GOD BLESS CHINA AND KAZAKHSTAN

[pravindahiya]

US didn't run away because of economic feasibility. They ran away because of NO route to take the oil OUT of the region.
Kazakh is surrounded by 1) Russia 2) China 3) Caspian sea 4) turkmenistan
&
5) Uzbek 6) Kyrgyzistan
Where will a pipiline go ?
a) Not Rissia or China
b) through Caspian sea - can go to Iran or Azerbaijan ( further to Armenia ? or Georgia ).
c) Turkmen to Iran ?
d) Uzbek to Turkmen & ...?
e) Kyrgyzistan to Tazik & Afganistan ( via mountains ) ?
ONLY possibility was through Caspian sea, Azerbaijan, Georgia ( with Russia & Iran dominating the Caspian ).

[keesstaps]

Doesn't spend us dollars it uses Chinese currency

[moonwatcher]

Investment in a better future, even if it doesn't bring monetary profit, it's still not a loss.

[han.grabkllee]

Even with no Oil..
China would buy it for Relation and Influence

[tariqsultan]

China will never loose but. It will take other oil company