http://www.businessweek.com/ap/2012-11-19/news-summary-total-sells-nigeria-offshore-stake

AP News

News Summary: Total sells Nigeria offshore stake


FRENCH CONNECTION: French oil company Total SA said Monday it had sold its stake in an offshore oil field near Nigeria for $2.5 billion to the Chinese state-run firm Sinopec Corp.

CHINESE EXTENSION: China is increasingly looking across Africa for raw materials and commodities to fuel its massive economy.

PUMPED UP: The field includes Total's deep-water Usan production operation, which opened earlier this year and has a production capacity of 180,000 barrels a day. The field is about 62 miles offshore.


We Almost Lost the Nasdaq
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus