{"id":13569,"date":"2025-03-12T08:42:08","date_gmt":"2025-03-12T08:42:08","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=13569"},"modified":"2025-03-12T08:42:08","modified_gmt":"2025-03-12T08:42:08","slug":"china-indian-energy-firms-plans-investment-in-nigeria","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/13569\/","title":{"rendered":"China, Indian Energy Firms Plans Investment In Nigeria"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0China National Petroleum Corporation and India\u2019s ONGC Videsh Ltd (OVL) have revealed plans to invest in Nigeria\u2019s oil and gas industry, citing regulatory reforms and the country\u2019s huge oil and gas reserves.<\/p>\n

The oil and gas firms gave the hint on Tuesday during a panel session at the 2025 CERAweek by S&P Global in Houston, Texas, USA.<\/p>\n

The theme of the session is \u2018Spotlight: Attracting Investment for Oil and Gas.\u2019<\/p>\n

The Deputy Director-General of the Planning Department, CNPC, Pinxian Zhang, said during the investment call hosted by the NNPC and the National Oil Corporation (NOC) of Libya that the company is targeting countries with effective regulation.<\/p>\n

Zhang said, \u201cCNPC, through its strategic developments, has discovered a lot of vast oil fields and has gone to many countries to establish and improve their oil and system and ministries.<\/p>\n

\u201cCNPC is involved in the operation of over 50 oil and gas projects in more than 20 countries worldwide. We are in Central Asia, the Middle East, Africa, and South America.<\/p>\n

\u201cOur business includes oil and gas exploration, pipeline construction and operations, refinery, and chemicals.\u201d<\/p>\n

He said the company seeks to invest in a safe environment with sound regulations.<\/p>\n

\u201cGoing forward, CNPC will continue to enhance its corporation in investing in the oil and gas sector,\u201d he said.<\/p>\n

On the priority region, he said the company is targeting its existing projects in Central Asia and the Middle East.<\/p>\n

\u201cWe are pursuing opportunities in other countries across other regions. In Africa, we will continue to optimise operative projects in Chad, Niger, and Mozambique.<\/p>\n

\u201cWe are exploring opportunities in countries such as Nigeria, Namibia, and Angola.\u201d<\/p>\n

Similarly, the Managing Director of ONGC Videsh Ltd. (OVL), Rajarshi Gupta, said India consumes $5.4m of oil daily while 70,000 Indians fill up their cars daily.<\/p>\n

\u201cThere is an expectation that they will get the product at the right price. What is important for us is that we need a buy-in of the government because whenever we enter a country, we are there for the long run,\u201d he said.<\/p>\n

Gupta said the company considers fiscal and legal regimes before investing.<\/p>\n

\u201cIf the government of the nation has available resources, we will offer them a commitment,\u201d he added.<\/p>\n

According to him, Nigeria is one of the countries that OVL will explore.<\/p>\n

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