Nigeria: Dangote Mulls Buying Oil Blocks for Refinery Complex

22 January 2014

Dangote Group, led by Africa's richest man, Aliko Dangote, is considering the purchase of oil blocks as international companies plan to sell onshore assets in Nigeria.

The company, which has interests from cement to sugar, needs to secure a supply of crude oil and a "substantial amount of gas" for a $9 billion oil refinery and petrochemical complex it plans in South-west Nigeria, Group Executive Director, Devakumar Edwin, said in a recent interview in Lagos. He said the company also needed energy for its cement plants in Nigeria.

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