Indonesia to buy more crude oil from Nigeria

Indonesia to buy more crude oil from Nigeria

The Nigerian National Petroleum Corporation (NNPC) said Indonesia has
indicated its interest in increasing its purchase of crude oil from Nigeria.


Maikanti Baru The NNPC in a statement signed by Mr Ndu Ughamadu NNPC Group
General Manager, Group Public Affairs division in Abuja on Tuesday disclosed
that Indonesia currently purchases about 90,000 barrels of crude oil per day
from Nigeria.

According to the statement this is in addition to about 140,000 barrels per
day from Saudi Arabia to supplement its 900,000 barrels per day production.

Speaking during a visit to the Group Managing Director of the NNPC Mr.
Maikanti Baru, the Indonesian Ambassador to Nigeria, Mr Harry Purwanto also
stated that his country looked forward to lifting crude oil directly from
Nigeria, rather than through a third-party as was currently the case.

He said that the President of the country, Joko Widodo, had instructed
Indonesia National Oil Company, Pertamina, to direct its attention to
Nigeria in its quest to meet the country's surging energy needs.

He added that a Memorandum of Understanding, MoU, on possible areas of
co-operation between Nigeria and Indonesia was in the works.

The NNPC said the call by the ambassador signifies the prospects of soaring
Nigeria's market share in Asian emerging economies which include China and
India, having lost grounds in crude oil sales in the United State of America
due to advances in shale oil exploration in recent years.

Responding Baru, said the NNPC was interested in working with Indonesia on
its initiative to replace firewood and kerosene with Liquefied Petroleum Gas
(LPG) as primary domestic fuel for cooking.

He noted that the NNPC was aware of the huge success of the kerosene
substitution programme in Indonesia and would like a collaboration to help
Nigeria achieve a similar feat.

He added that the NNPC would also like to partner with Indonesia in the area
of bio-fuels production to diversify the nation's energy mix and meet its
energy needs. He challenged Indonesia to consider participating in the
forthcoming bid round in order to realize its aspiration of maintaining a
presence in the Nigerian oil and gas sector.

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Link to Original Article:
http://www.vanguardngr.com/2017/05/indonesia-buy-crude-oil-nigeria/

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com