China offshore oil company to invest $3bn in Nigeria
Mr Ndu Ughamadu, the Nigeria National Petroleum Corporation (NNPC) spokesman said this in a statement on Sunday in Abuja.
Recommended articles
![Former Minister of Aviation, Hadi Sirika. [Punch]](data:image/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'100'%20height%3D'100'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E "Former Minister of Aviation, Hadi Sirika. [Punch]")
Mr Ndu Ughamadu, the Nigeria National Petroleum Corporation (NNPC) spokesman said this in a statement on Sunday in Abuja.
Ughamadu saidMr Yuan Guangyu, the Chief Executive Officer of the Beijing-based Corporation, made the pledge when he led a team of CNOOC top executives on a visit to the NNPC.
“Guangyu described its investment in Nigeria as the most strategic important overseas business undertaking and its largest investment destination.
ADVERTISEMENT
“He said CNOOC had invested more than 14 billion dollars in its Nigerian operations, even as he called on the management of the NNPC to seek common grounds of beneficial interest with CNOOC for enhanced productivity,’’ Ughamadu said.
The statement also quoted the Group Managing Director of NNPC, Dr Maikanti Baru as thanking CNOOC for its interest in the Nigerian oil and gas industry.
Baru said the corporation was open to new investments and would foster meaningful and mutually beneficial relations with credible entities like CNOOC.
Founded in 1982, the CNOOC which is one of the three big Chinese national oil entities is originally focused on offshore upstream exploration and production.
The China National Petroleum Corporation is involved in onshore upstream exploration while SINOPEC, the third of the tripod, is focused on refining and marketing.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Jimoh Ibrahim warns Tinubu about danger of not dropping ministers accused of corruption
EFCC to arraign Sirika and his daughter on Thursday over ₦2.7bn fraud
Fubara's loyalist, Jumbo emerges Rivers Assembly Speaker
Reps want military joint taskforce to flush out criminals in Niger
Okomu Oil Palm threatens to shut down operations due to militant invasions
Delta Assembly confirms appointment of Governor Oborevwori’s 5 nominees
Reps form committee to probe death of 4-year-old at Brickhall school
FCT residents choose ponmo, crayfish for protein amid soaring meat, fish prices
Nigerian activist championing disability rights vies for UN committee seat
Pulse Sports
DAVID AND VICTORIA BECKHAM: How the global soccer superstar and the Spice Girl-turned-fashion designer make and spend their millions
Chelsea set to offer Romelu Lukaku and cash for Super Eagles star Victor Osimhen
Mikel Obi: Super Eagles legend goes viral speaking Hausa
Anthony Joshua: Nigerian-born boxer teams up with Mariah Carey, Naomi Campbell and Cuppy in France
ADVERTISEMENT
![Bola Tinubu. [Facebook]](data:image/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'300'%20height%3D'172'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E "Bola Tinubu. [Facebook]")