IOC plans bid for Nigerian refinery

 The Fortune 500 company is in talks with the Nigerian government to buy a stake in the 6 million tonne per annum (mtpa) state-owned refinery at Port Harcourt in Nigeria, besides planning to set up a greenfield refinery in the country.

 "IOC has always been interested in the downstream sector in Nigeria. We are considering a refinery proposal by them," Nigerian Oil Minister Edmund Daukoru said after meeting his Indian counterpart Murli Deora today. Daukoru is also the president of Oil Producing and Exporting Countries (OPEC).

 Nigeria had targeted to refine 40% of its crude oil production domestically in 2007. "That doesn