Highlights To sign MOU on energy investment Saudi Aramco looking at building oil refinery in Nigeria Nigerian refining in urgent need of investment London — Saudi Arabia is looking to strengthen ties with Africa’s largest oil producer, with state-owned Saudi Aramco studying the possibility of building an oil refinery in Nigeria, as part of an investment agreement, the Nigerian oil ministry said Friday. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The two OPEC members are set to sign a Memorandum of Understanding (MOU) that will “cover key areas of investment including refinery revamp, building of a brand new refinery, and LNG,” according to an oil ministry statement. Nigeria’s oil minister Emmanuel Kachikwu visited Riyadh this week where he met with his counterpart Khalid al-Falih and also held meetings with Saudi Aramco CEO Amin Nasser. “[Saudi oil minister] al-Falih also reiterated the possibility of establishing […]