NEWS

NNPC Signs New Oil Swap With Foreign Companies

Nigerian National Petroleum Corporation, NNPC, has set up four new crude swap contracts to replace those cancelled last month that were vital for bringing in about half of domestic fuel demands, industry sources disclosed.

NNPC cancelled the 2015 deals with Nigerian companies Sahara Group, Aiteo Group and NNPC’s trading arm Duke Oil because they were alleged to have been “skewed in favour of the companies.”

Though there is a change to the new contract winners, it’s unclear whether these will be more transparent.

Read More: nationalmirroronline

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