Nigeria, China sign major oil deals
ABUJA, Nigeria, April 27 (UPI) -- Nigeria has granted four oil blocks to China during President Hu Jintao's visit to Abuja.
Two of the blocks are in the oil-rich, but politically troubled Niger Delta, and the two others are located on Nigeria's side of the Lake Chad Basin, Nigeria's guardian newspaper reported Thursday.
Under deals signed between the two sides, China will also take over the Kaduna Refinery, which has a capacity of 10,000 barrels per day, and build a power generating plant in Nigeria. In exchange, China will invest $4 billion in Nigeria's infrastructure.
"Our cooperation has been expanded in the areas of agriculture, energy, power generation and infrastructure development," Hu said after talks with Nigerian President Olesegun Obasanjo.
Hu arrived in Africa with a 40-member delegation. Beijing has made no secret of its push for energy resources in Africa and has pushed close ties with Nigeria and Sudan, both top oil producers on the continent.
Two of the blocks are in the oil-rich, but politically troubled Niger Delta, and the two others are located on Nigeria's side of the Lake Chad Basin, Nigeria's guardian newspaper reported Thursday.
Under deals signed between the two sides, China will also take over the Kaduna Refinery, which has a capacity of 10,000 barrels per day, and build a power generating plant in Nigeria. In exchange, China will invest $4 billion in Nigeria's infrastructure.
"Our cooperation has been expanded in the areas of agriculture, energy, power generation and infrastructure development," Hu said after talks with Nigerian President Olesegun Obasanjo.
Hu arrived in Africa with a 40-member delegation. Beijing has made no secret of its push for energy resources in Africa and has pushed close ties with Nigeria and Sudan, both top oil producers on the continent.
posted by Marko at 4/27/2006 09:49:00 AM
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