Petroleum Africa
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Friday, June 6, 2014
Nigeria has added new companies to list of firms approved to be awarded contracts to buy its crude, putting Chinese and Indian state oil companies on to it. The list has now been expanded to 43 companies, a significant jump from the list of 23 Nigeria initially released in April.
The revised list contains 28 Nigerian firms, seven more than the April list and China’s Sinopec and India’s Indian Oil Corp. were added in addition to several other companies.
The list of long-term oil contracts was also expanded, taking it up to about $52 billion worth of the country’s number one resource, according to a Reuters report. Nigeria will award around 482 million barrels of its oil for one year starting June 2014, with more local companies winning awards.
The majority of these companies will receive about 30,000 bpd.
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