The Sino-Shango pact

China's US$2.27 billion foray into oil production for a 45 per cent stake in Nigeria's Block 130 is not the 'definitive agreement' that the China National Offshore Oil Corporation (CNOOC) claims. Aside from the hard operating conditions and technical challenges facing investors, there are substantive legal questions about ownership and revenue sharing to be resolved in tough negotiations over the next six months.

Article Tags:
China, India, Sani Abacha, Abdulsalami Abubakar, Gilbert, Jack Chagoury, Olusegun Obasanjo, Theophilus Danjuma, Brazil, Angola, Fu Chengyu, Mike Osime, Olu Fasanu, Daisy Danjuma, Li Zhaoxing

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