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 ...

Italy's Ansaldo Set to Produce Power From Iran's South Pars Gas Flares
Italy's Ansaldo Energia signed a memorandum of understanding...
Norway’s Saga Signs $2.9b Iran Solar Power Venture
Norway’s Saga Energy signed a €2.5 billion ($2.94 billion)...
French, German Groups Ink Water Agreements
French and German groups on Wednesday signed broad-ranging...
Total Says Will Try to Move Ahead With Iran Gas Project
French oil and gas major Total will try to push ahead with its...
Tashkent Eyes Iran Oil Import, Mulls Transport Options
Uzbekistan is willing to join the list of Iran's crude oil...
Iraq Asks BP to Develop Kirkuk Fields
Iraqi Oil Minister Jabar al-Luaibi has asked BP to "quickly...
Brent, WTI Prices Pick Up
Oil prices rose on Wednesday as weekly US crude inventories...

Trending

Googleplus