44451
Nigeria Seeking  $50b
Energy

Nigeria Seeking $50b

Nigeria is seeking $40 billion to $50 billion in investment in oil projects as the OPEC producer said it raised crude output to as much as 1.9 million barrels a day as of two days ago. The African producer signed a potential deal for $8.5 billion of investment with China North Industries Group Corp., Nigerian State Minister for Petroleum Resources Emmanuel Ibe Kachikwu said in a Bloomberg television interview in Beijing on Monday. The country’s crude output should rise to 2.2 million barrels a day next month if repairs to a pipeline are completed, he said. “We’re looking to raise about $40 to $50 billion,” Kachikwu said. “Going to places like China, which have a huge capacity to put money in the oil sector, is very helpful.” Bottom of Form Low oil prices, which have fallen by more than half in the past two years, are forcing some of the world’s largest drillers to seek investment to maintain and expand output.

Short URL : http://goo.gl/muwYU5
  1. http://goo.gl/J8OaCa
  • http://goo.gl/oIfxhK
  • http://goo.gl/lxdZ4H
  • http://goo.gl/g9KeXz
  • http://goo.gl/dmIqaE

You can also read ...

China Starts World's Biggest Floating Solar Power Project
A unit of China Three Gorges Corp. is building a floating...
Iran has estimated investment requirements in its petroleum projects at $200 billion.
Iran's state oil company is lining up a spate of subcontracts...
UN-Habitat Signs MoU on Tehran Water Management
The United Nations Habitat Office in Tehran signed a...
Investment in the energy sector should be focused on the completion of value chain.
The parliament is ready to back new investments that would...
Indian Ban on Petcoke Imports Will Hurt US
India’s government is in favor of banning the import of...
Iraq Boosts Kirkuk Refinery Output
Iraq’s Oil Ministry has added a new processing unit to the...
Brent, WTI Prices Stable
Oil markets were stable on Monday as ongoing output cuts led...

Trending

Googleplus