“Niger Inks $400 Million Crude Oil Deal with China, Strengthening Bilateral Ties”

Date:

NIAMEY, April 13 (Reuters) – Niger’s state television RTN reported late on Friday that Niger has signed a memorandum of understanding (MOU) valued at $400 million with Chinese state-owned oil giant China National Petroleum Corp (CNPC) related to the sale of crude oil from its Agadem oilfield.

Thank you for reading this post, don't forget to subscribe!

Details of the agreement were not disclosed by RTN, and attempts to reach Niger’s military authorities and CNPC for comment were unsuccessful.

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.

Chinese ambassador Jiang Feng emphasized the significance of the deal, stating, “This signature demonstrates the friendship and fruitful cooperation between the two states.”

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.


Discover more from Naija247news

Subscribe to get the latest posts to your email.

Naija247news
Naija247newshttps://www.naija247news.com/
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

Share post:

Subscribe

Popular

More like this
Related

IPOB Confirms May 30 Sit-at-Home Order for General Ojukwu’s Biafra Remembrance Day

  The Indigenous People of Biafra (IPOB) has reiterated that...

Father Demands Investigation into Daughter’s Suspicious Death After Alleged Suicide in Manchester

  Controversy surrounds the death of 26-year-old Oladapo Alanis, who...

Vanuatu Appoints Nigerian Businesswoman Naomi Omolola Sigismund as Trade Commissioner to Toronto

The Government of Vanuatu has appointed Mrs. Naomi Omolola...

Mike Tyson Declares Full Health Ahead of July Bout with YouTuber Jake Paul Despite Recent Health Scare

  Mike Tyson, the 57-year-old former world heavyweight champion, asserted...

Discover more from Naija247news

Subscribe now to keep reading and get access to the full archive.

Continue reading