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NNPC to supply 10 per cent of India’s crude oil

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Despite competing demands for crude oil from other countries, Nigeria’s National Petroleum Corporation (NNPC) reiterated its commitment yesterday to keep the supply of 10% of India’s crude oil demand. .

The CEO of the Corporation Group (GMD), Mele Kyari, renewed the commitment when he received the High Commissioner of India in Nigeria, Abhay Thakur, said a statement by the NNPC spokesman, Ndu Ughamadu.

GMD said that Nigeria, through the company, will continue to support India’s energy security, adding that the recent Memorandum of Understanding (MoU) in the energy area between Nigeria and India will be completed to further strengthen bilateral relations between the two countries. two countries

According to the statement, Kyari stated that the NNPC wanted to increase energy cooperation with India and that it was time to move from talking to walking.

He described India as a very important market and that the NNPC would ensure that the current volume of supply of crude to the Asian country “is secured for the collective interest of both countries.

“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,” Kyari posited.

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He averred that there were lots of untapped investment opportunities in the nation’s Liquefied Petroleum Gas (LPG) and expressed the willingness of the NNPC to aggressively improve LPG infrastructure and consumption in the country.

Ambassador Thakur had earlier 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.”

Mr. Thakur also congratulated Kyari on his appointment as the GMD, noting that the confidence reposed in him was not misplaced.