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Vol 47 No 22

Published 3rd November 2006


Nigeria

Starstruck Starcrest

On 20 October, Swiss-based and Canadian-listed Addax Petroleum announced that it was buying a controlling interest in a lucrative Nigerian oil block - the award of which until that point had not been announced by the government. Interestingly, Addax bought the new stake from an indigenous company with no employees, office or telephone number and for more than double its original sale price.

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