French oil company Total was in talks to sell some assets in Nigeria, its chief executive said yesterday, but it was not pulling out of the country.

“Yes we are discussing with certain buyers about selling certain assets in Nigeria,” Christophe de Margerie said.

“But it doesn’t mean we are scared and intend to start some kind of walking out of Nigeria. Total is happy to develop its projects in Nigeria.”

China’s Sinopec is reportedly close to buying stakes in Nigerian onshore oil blocks from Total.

De Margerie would not deny the report. – Reuters