Nigeria has said it will continue to supply ten percent of India’s crude oil demand in the face of competing demand for the product from other countries.
The Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Malam Mele Kyari, gave the assurance when the Indian High Commissioner to Nigeria, Abhay Thakur, paid him a courtesy visit in Abuja.
He said that Nigeria, through the corporation, would continue to support India’s energy security.
He added that the recent Memorandum of Understanding in the area of energy between Nigeria and India would be consummated to further strengthen the bilateral relations between the two countries.
He said that NNPC was desirous of growing the energy cooperation with India and that it was time to progress from just talking to walking the talk.
He said India was a very important market and that the NNPC would ensure that the current volume of crude oil supply from Nigeria to India was 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 said
He added 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.
Earlier, Thakur 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 said 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,” Thakur said.
The Indian High Commissioner also congratulated Kyari on his appointment as the Group Managing Director of the NNPC, noting that the confidence placed in him was well considered for national interest.