Sources say Chinese state-owned oil company CNOOC (CEO) is in talks with Nigeria to buy a large...

|About: CNOOC Limited (CEO)|By:, SA News Editor

Sources say Chinese state-owned oil company CNOOC (CEO) is in talks with Nigeria to buy a large stake in some of Africa's richest oil blocks, at a possible value of $30B. A successful buy would put CNOOC in competition with western oil majors with a strong presence in the area (TOT, RDS.A, CVX, XOM).