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Article: China CNOOC silent on report of Nigeria oil talks.
- Article from:
- Times of Oman (Muscat, Oman)
- Article date:
- September 29, 2009
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Byline: Reuters
BEIJING: Chinese state-owned oil company CNOOC is in talks with Nigeria to buy large stakes in some of Africa s richest oil blocks, the Financial Times reported on Tuesday.
The value of the potential deal was not disclosed, but some details suggested a figure of around $30 billion, the FT said. It said CNOOC, China s No.3 oil and gas producer and an offshore specialist, was bidding for 6 billion barrels of oil, equivalent to one in six pumped by Nigeria, which vies with Angola to be Africa s largest oil producer.
Yang Hua, president of CNOOC Ltd the listed arm that has been the main vehicle for the firm s overseas investment, ...