China National Petroleum Corporation Plans to Invest in the Exploration-Production and Refining Sectors

摘要

China National Petroleum Corporation(CNPC)is pushing ahead with its internationalization strategy,and Nigeria is on its list of targets.A heads of agreement has been signed between the two countries and talks are underway with a view to putting this desire for cooperation into effect.CNPC has already expressed its interest in teaming up with the Nigerian National Petroleum Corporation(NNPC)on Blocks OML 65 and OML 111,as well as in acquiring equity stakes in the Kaduna and Port Harcourt refineries.