The Nigerian National Petroleum
Corporation (NNPC) on Thursday expressed its readiness to maintain the
supply of 10 per cent of India’s crude oil demand in the face of
competing demand for the product from other countries.
The Group
Managing Director of the NNPC, Mele Kyari made the disclosure during a
visit by the Indian High Commissioner to Nigeria, His Excellency Abhay
Thakur.
The GMD stated that Nigeria, through the Corporation,
would continue to support India’s energy security, adding 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.
Mallam Kyari stated 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 NNPC would ensure that
the current volume of crude oil supply from Nigeria to India is 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,” Mallam Kyari posited.
He averred that
there were lots of untapped investment opportunities in the nation’s
Liquefied Petroleum Gas (LPG) and expressed the willingness of NNPC to
aggressively improve LPG infrastructure and consumption in the country.
Earlier,
the Indian High Commissioner to Nigeria, His Excellency Abhay 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 disclosed 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 asserted.
The Indian High
Commissioner also congratulated Mallam Kyari on his appointment as the
Group Managing Director of NNPC, noting that the confidence placed in
him was well considered for national interest.
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