US$23b deal signed
Source: Agencies |
May 15, 2010, Saturday
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Print Edition
Print Edition
NIGERIA'S state-run oil company has entered into a US$23 billion agreement with a Chinese company to build three oil refineries and a fuel complex in the west African nation.
The Nigerian National Petroleum Corp said this would help the oil-rich nation cut back the amount of gasoline the country is forced to import. Nigeria's refineries are in a state of disrepair, despite the fact the nation is one of the top crude oil suppliers to the United States.
Its agreement with China State Construction Engineering Corp will add 750,000 barrels of capacity a day to Nigeria's refining capability.
The Nigerian National Petroleum Corp said this would help the oil-rich nation cut back the amount of gasoline the country is forced to import. Nigeria's refineries are in a state of disrepair, despite the fact the nation is one of the top crude oil suppliers to the United States.
Its agreement with China State Construction Engineering Corp will add 750,000 barrels of capacity a day to Nigeria's refining capability.
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