Nigerian Oil-Services Firm Japaul Seeks $70 Million to Switch to Mining
- Company exiting the oil industry after protracted downturn
- Nigeria diversifying from crude dependence to end price shocks
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Japaul Oil & Maritime Services Plc, a Nigerian petroleum-services company, plans to raise 27 billion naira ($70 million) in a share offer in November to fund its switch to mining as crude exploration and production activities wane.