Chad Sees More Fees From CNPC Oil Deal Offsetting Price Drop
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Chad will receive a larger share of royalties in a new deal with China National Petroleum Corp., helping offset revenue losses from lower oil prices, Petroleum Minister Djerassem Le Bemadjiel said.
Lawmakers in the central African nation this week are expected to approve a renegotiated contract with Beijing-based CNPC, Le Bemadjiel said in an interview at his office in the capital, N’Djamena, April 28. The deal will also give the nation a 25 percent share of production, compared with nothing now, he said.