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The hunt for oil
China needs natural resources to power its economy, which grew 7.9% in the latest quarter. One example: China's National Offshore Oil Corporation (CNOOC) has invested heavily in Nigeria's oil sector, including this rig near Port Harcourt.

Now, CNOOC is in talks with the Nigerian government about access to some six billion barrels of oil in a deal that could be worth as much as $30 billion.

NEXT: Buying Brazil's black gold
Last updated October 09 2009: 4:12 PM ET
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