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NNPC, Chinese firm signs crude oil contract
The Deputy Senate President, Senator Ibrahim Mantu has commended the
Nigeria National Petroleum Corporation (NNPC) transformation programme,
Project PACE. Mantu made the commendation during the signing of a crude oil
agreement between Petrochina and NNPC recently in Abuja.
Mantu said Nigeria has a lot of benefit technologically from China. He
observed that this will open more doors to accommodate new people who will
add value to what NNPC is doing.
The NNPC Group Executive Director, Refining and Petrochemicals, Engineer
Abubakar Yar'Adua, who represented the Group Managing Director, Engineer
Funsho Kupolokun said the signing of the agreement is a good thing and an
opportunity to lean more from China.
Petrochina, one of China's oil companies with refineries and filling
stations and an office in London owned by the Chinese government, is the
second Chinese company to sign a crude oil deal with the NNPC.
Dr. Edmund Daukoru, the Honourable Minister of State for Petroleum
Resources, who was also present, said the agreement has brought to the fore
the realization of a journey that started last year.
Daukoru said this was the first step taken to realize the vision of
cooperation between the two countries in crude oil and power generation.
Also speaking at the signing ceremony, the Chinese ambassador to Nigeria,
who accomplished the trade mission said China is not only interested in the
upstream sector but also the downstream sector including the refineries.
The ambassador said beside crude oil, China would also want to import
agricultural products from Nigeria. He declared that the signing of this
contract is just the beginning of good things to happen.
The contract worth 800 million dollars, covers 30,000 barrels per day and it
is for one year.
The occasion was witnessed by delegates of Petrochina and staff of NNPC.