Energy: China takes a $2.4bn stake in Nigerian oil.

Position:BUSINESS BRIEFS
 
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China continued its uptake in African energy resources with a $2.4bn cash buyout by CNOOC for a 45% stake in Nigeria's OML 130 offshore oilfield. Chinese oil companies are on the energy resource acquisition trail to meet the demands of the country's rapidly growing economy. The field, about 200km off the cost of Port Harcourt, is scheduled to pump about 225,000 barrels a day from 2008...

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