It is unfortunate that black American newspapers are not tracking this trend.
Chinese Investors Offer $2bn for Nigerian Oil Field
By Mike Oduniyi With Agency Report
Lagos
AllAfrica.com
China National Offshore Oil Company Limited (CNOOC), yesterday said it will pay $2.3 billion (N299 billion) in cash to acquire 45 per cent shares of South Atlantic Petroleum, owned by former Defence Minister, Gen. Theophilus Danjuma (rtd), in Akpo oil field located in OPL 246.
The Chinese investors would be taking up the equity which was turned down last month by India’s ONGC, citing risk factor.
CNOOC is China’s biggest offshore oil producer, and its acquisition of interest in the Nigerian oil field would be China’s third big overseas takeover since August 2004 to meet increasing energy demand. (more…)
