China Seals Oil Exploration Deal with Nigeria – Njei Moses Timah

From OhmyNews International (link):

Nigeria gave four of 17 drilling licenses to China National Petroleum Corp. (CNPC) on May 19. The deal cements an agreement made last month during a visit by Chinese President Hu Jintao.

China will explore two areas in the restive, oil-producing Niger Delta and two areas in the Chad basin, where oil is yet to be produced. In exchange for the licenses, China will invest $4 billion to build a railway system and power stations and to control a stake in the 110,000 barrel-a-day Kaduna oil refinery.

See also Nigeria to Give China Oil Rights for Investment by Reuters, and China gets Nigerian oil rights by Emmanuel Goujon

CDT EBOOKS

Subscribe to CDT

SUPPORT CDT

Browsers Unbounded by Lantern

Now, you can combat internet censorship in a new way: by toggling the switch below while browsing China Digital Times, you can provide a secure "bridge" for people who want to freely access information. This open-source project is powered by Lantern, know more about this project.

Google Ads 1

Giving Assistant

Google Ads 2

Anti-censorship Tools

Life Without Walls

Click on the image to download Firefly for circumvention

Open popup
X

Welcome back!

CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.