Oil Mining

Chibisi Ohakah, Abuja

Nigeria is on the verge of renewing crude oil sale deal with Indonesia. The oil export pact with Indonesia, which saw the country importing from Nigeria crude oil worth about $2.5 billion, last year alone, expired in December 2018. Officials said Nigeria looks forward towards improving on the crude oil export deal with the Asian country.

In the buildup towards renewing the contract, the Nigerian National Petroleum Corporation (NNPC) has indicated interest in working with the Indonesian national oil company, Pertamina, to improve on the volume of crude oil export, as well as the $2.5 billion trade balance between Indonesia and Nigeria.

While receiving the Indonesian Ambassador to Nigeria, His Excellency, Dr Usra Hendra Harahap, in Abuja, the Group Managing Director of the NNPC, Mallam Mele Kyari, disclosed that partnership with Pertamina could open up more opportunities for the nation’s crude oil and gas in the face of the unpredictable global market.

Kyari said that NNPC was ready to renew the trade contract with the Republic of Indonesia which expired last year and directed the relevant arms of the corporation to work out modalities to ensure a better deal for the benefit of both countries.

Earlier in his presentation, the Indonesian Ambassador, His Excellency, 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 new GMD to deliver on his mandate as the leader of the oil and gas industry in Nigeria.

“The new NNPC boss is very experienced. I read his curriculum vitae and I found it very wonderful. Nobody can cheat him because he grew through the ranks to the top. I think NNPC will be very strong by his leadership qualities”, the diplomat concluded.

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