Parastatals in charge
Gas flaring in Nigeria is not just an environmental disaster. It is an awful thing to live near and it's like burning huge piles of money. Time will tell if the Russians can do any better than the Western European companies at eliminating flames, noise, and smoke.
Gazprom seals $2.5bn Nigeria deal
Russia's energy giant Gazprom has signed a $2.5bn (£1.53bn) deal with Nigeria's state operated NNPC, to invest in a new joint venture.
The new firm, to be called Nigaz, is set to build refineries, pipelines and gas power stations in Nigeria.
Analysts say the move could further strengthen Russia's role in supplying natural gas to Europe...
See also:
- Nigeria's gas profits 'up in smoke'
- Gasprom’ll End Gas Flaring, Says Russian Envoy
- Pressure on oil companies grows to end gas flaring in Nigeria (October 2007)
Labels: economics, globalization, Nigeria, Russia
posted by Ken Wedding @ 8:52 AM
1 Comments:
The Russians are not the only ones buying into Nigeria's oil and gas industry.
At Last, China Makes Dramatic Entry Into Nigerian Oil Sector
"Last week's decision of China's largest petroleum refiner, Sinopec International Petroleum Corporation to acquire Addax Petroleum Corporation has been described as a victory of sort for the Asian country after years of unsuccessful bidding for a piece of action in the Nigerian oil industry.
Sinopec, an acronym for China National Petroleum Corporation is said to have paid $7.24 billion (N1.06 trillion) for Addax Petroleum..."
Post a Comment
<< Home