Total Sells Nigeria Oil Field to Sinopec for $2.5 Billion
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China Petrochemical Corp. , seeking to reverse a decline in oil reserves, will buy a 20 percent stake in an offshore Nigerian field from French explorer Total SA for about $2.5 billion.
China Petrochemical Corp. , seeking to reverse a decline in oil reserves, will buy a 20 percent stake in an offshore Nigerian field from French explorer Total SA for about $2.5 billion.
Nigeria's oil reserve will be depleted in 41 years, according to a World Bank Group's twice-yearly analysis of the issues shaping Africa's economic prospects called Africa's pulse.