Nigeria,
Africa’s biggest oil producer, is almost wholly reliant on imported gasoline,
kerosene and other petroleum products, despite exporting around 2 million
barrels per day (bpd) of crude oil. Efforts to revamp the country’s own
long-neglected refineries have met with limited success.
The Nigerian
National Petroleum Corporation (NNPC) said in November that it would move away
from swap agreements, also called “offshore processing arrangements” (OPAs), to
improve transparency.
“The
crude-for-products exchange arrangement popularly referred to as crude swap
will be replaced by a Direct-Sale-Direct-Purchase (DSDP) arrangement which
would take off next month,” NNPC
spokesman, Ohi Alegbe, said some
days ago.
Alegbe said
this had been announced by Emmanuel Ibe Kachikwu, minister of state for
petroleum resources, during an appearance before a parliamentary committee set
up to investigate NNPC swap arrangements. (Guardian)
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