China's Sinopec (SNP) has signed a preliminary deal to buy stakes in Nigerian onshore oil blocks...

|By:, SA News Editor

China's Sinopec (SNP) has signed a preliminary deal to buy stakes in Nigerian onshore oil blocks from Total (TOT) worth ~$2.4B, Bloomberg reports. The French group said in September it planned to sell assets worth $15B-$20B in the period up to 2014 to raise cash for oil and gas projects.