China has invested up to $16 billion in Nigeria’s oil industry, mostly upstream, over the last 14 years through its state oil firm, the China National Offshore Oil Corporation (CNOOC), the Executive Vice President of the company, Mr. Lu Yan Ji, said yesterday.
Ji, disclosed this when he visited the Group Managing Director of the NNPC, Mallam Mele Kyari.
He said Nigeria was one of his company’s largest investment destinations with investment outlay standing at about $16 billion.
Ji, thus called for NNPC’s support in securing the investments, adding that there was need for both national oil corporations to work closely together. Read more
