LAGOS, Dec 24 (Reuters) - Nigeria's state oil company said
on Tuesday it will increase its stake in a Chevron-operated
gas-to-liquid refinery to 60% as part of a cost dispute
resolution with the U.S. oil major.
The Nigerian National Petroleum Corporation (NNPC) has a
20%stake in the plant some 60 miles (100 km) southeast of Lagos.
California-based Chevron, which is trying to sell some
Nigerian assets in an effort to focus on its fast-growing U.S.
production, did not immediately comment. The 33,000 barrel-per-day (bpd) plant, which produces
synthetic diesel, liquefied petroleum gas and naphtha from
natural gas using technology from South Africa's Sasol, cost
around $10 billion to build, four times the original estimate,
and its start-up in mid-2014 was years late.