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Vol 2 (AAC) No 12

Published 1st October 2009

Abuja writes the playbook, Beijing brings the players

Who is fooling whom in the scheming over oil and gas reserves?

On the face of it, the speculation that China could take over US$50 billion worth of Nigeria's oil reserves currently licensed to Western oil majors is on the outer reaches of political fantasy. Although Western oil companies are privately dismissive of China's tactics, the start-up of negotiations on the oil licences has started to concentrate minds. If nothing else, it is a shrewd negotiating gambit by President Umaru Musa Yar'Adua's government, which has been besieged on all sides in domestic politics.

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