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Vol 50 No 23

Published 20th November 2009


China's new bid for Nigerian oil

China has expressed interest in buying 49% stakes in 23 soon-to-expire oil block licences. The London Financial Times reported in September that the China National Offshore Oil Corporation was in talks to acquire stakes in fields with 6 billion barrels of proven reserves, close to a sixth of Nigeria's total of 38 bn. barrels in 2009; this was confirmed by Rilwanu Lukman.

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