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Vol 47 No 2

Published 20th January 2006


Nigeria

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.

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