May 21, 2024
Suit 25, Mangal Plaza, Nouakchott Street, Wuse Zone 1, Abuja- Nigeria.
OIL & GAS RENEWABLE ENERGY

Niger Signs $400 Million Crude Oil Deal With China

Niger has signed an MOU worth $400 million with Chinese state-owned oil giant China National Petroleum Corp (CNPC). This information was contained in a report by Niger’s state television RTN on the late hours of Friday.

The Prime Minister and Minister of Economy and Finance Ali Mahaman Lamine Zeine expressed gratitude for China’s support, stating, “China is a great friend to Niger; we can never say it enough,” during the signing ceremony broadcasted by RTN.

On his part, Chinese ambassador Jiang Feng emphasized the significance of the deal,  “This signature demonstrates the friendship and fruitful cooperation between the two states” he stated.

The agreement comes amidst the official launch of an export pipeline project by CNPC subsidiary PetroChina last November, connecting the Agadem oilfield to the port of Cotonou in neighboring Benin. Previously, Niger had a small oil refinery with a capacity of approximately 20,000 barrels per day, primarily catering to the domestic fuel market.

Details of the agreement were not contained in the report by RTN, attempts to get further information also proved abortive.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.