Wednesday 7 October 2009

China seeks big stake in Nigerian oil

By Tom Burgis in Lagos

Published: September 28 2009 23:30 | Last updated: September 28 2009 23:30

An engineer working gears at an pil production site in Nigeria
In the pipeline: oil production in Nigeria is at about two-thirds of capacity after years of rebellion and lack of investment

A Chinese state-owned oil company is in talks with Nigeria to buy large stakes in some of the world’s richest oil blocs in a deal that would eclipse Beijing’s previous efforts to secure crude overseas.