Crude Oil Export: NNPC To Renew Deal With Indonesia

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has said the NNPC was ready to renew the trade contract with Indonesian national oil company, Pertamina, which expired last year.

He has therefore directed the relevant arms of the corporation to work out modalities to ensure a better deal for the benefit of both countries.

Kyari disclosed this on Tuesday while receiving the Indonesian Ambassador to Nigeria, Dr. Usra Hendra Harahap, at the NNPC Towers, Abuja.

A statement by the corporation’s spokesman, Mr. Ndu Ughamadu, stated that the partnership with Pertamina could open up more opportunities for the nation’s crude oil and gas in the face of unpredictable global market.

Earlier in his presentation, the Indonesian Ambassador, Dr. Usra Hendra Harahap, noted that Indonesia has a long history of mutual relationship with Nigeria and was ready to improve on its $2.5 billion trade balance with Nigeria.

“Last year alone, Indonesia imported from Nigeria crude oil worth about $2.5 billion; but that contract ended in December, 2018”, adding that crude oil from Nigeria was considered to be of very high quality and environmentally friendly.

The Ambassador expressed confidence in the capacity of the NNPC’s new GMD to deliver on his mandate as the leader of the oil and gas industry in Nigeria.