NNPC Comitted To Supply 10% Of India's Crude, As It Offers Credit Line And IT Help
By Iwedi Ojinmah 4 months ago
The Nigerian National Petroleum Corporation (NNPC) on Thursday expressed its readiness to maintain the supply of 10 per cent of India’s crude oil demand in the face of a competing demand for the product from other countries.
Its Group Managing Director, Mele Kyari, disclosed this during a visit by the Indian High Commissioner to Nigeria, Abhay Thakur.
Kyari stated that Nigeria, through the Corporation, would continue to support India’s energy security, adding that the recent Memorandum of Understanding in the area of energy between Nigeria and India would be consummated to further strengthen the bilateral relations between the two countries.
He stated that NNPC was desirous of growing the energy cooperation with India and that it was time to progress from just talking to walking the talk.
He said India was a very important market and that NNPC would ensure that the current volume of crude oil supply from Nigeria to India is secured for the collective interest of both countriesRelated: Border Closure: FGN Further Suffocates Trade With Neighbours By Placing Embargo On Fuel Stations Within 12 Miles Of Border
“We are ready to have a robust engagement with the Indian trade team to provide a win-win energy scenario between us. Every trade opportunity that is available will be fully explored,” Mallam Kyari posited.
He averred that there were lots of untapped investment opportunities in the nation’s Liquefied Petroleum Gas (LPG) and expressed the willingness of NNPC to aggressively improve LPG infrastructure and consumption in the country.
Earlier, the Indian High Commissioner to Nigeria, Thakur, thanked the management of the corporation for the recent renewal of the crude oil term contracts for three Indian companies and sued for increment in the crude oil supply in view of the increasing energy needs of India.
He disclosed that India was ready to provide credit line mechanisms and expertise to help NNPC revamp its massive infrastructure across the country.
“India is prepared to offer Nigeria and particularly the NNPC a credit line mechanism to help her in the areas of refinery maintenance, construction, security, surveillance and anything possible. Our expertise in Information Technology (IT) is available as well. We are ready to cooperate with NNPC to boost our bilateral relations,” Thakur asserted.