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Indonesia to buy crude oil from Nigeria
June 12, 2017, 11:01 am
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Former OPEC-member state Indonesia has indicated that it is interested in purchasing more crude oil from Nigeria. This was disclosed by Indonesian ambassador to Nigeria Harry Purwanto who declared the South-East Asian country's interest in Abuja when he paid a courtesy visit last week to the Nigerian National Petroleum Corporation (NNPC).

The envoy noted that although Indonesia produced 900,000 barrels of crude oil per day, it supplements its 1.4 million barrels per day consumption with supplies from Nigeria, which supplies 18 percent and Saudi Arabia which delivers 28 percent.

According to a statement from NNPC, Mr. Purwanto said Indonesia looked forward to lifting crude oil directly from Nigeria, rather than through a third party as is currently the case. The ambassador was quoted as saying that his country’s president, Joko Widodo, had instructed Indonesia's national oil company, Pertamina, to direct its attention to Nigeria in its quest to meet that country's surging energy needs.

Indonesia’s interest in Nigerian crude signified the soaring prospects for Nigerian oil's market share in Asian emerging economies which include China and India, having lost grounds in crude oil sales in the US due to shale oil exploration there.

For its part, NNPC said it was interested in working with Indonesia on its initiative to replace firewood and kerosene with Liquefied Petroleum Gas (LPG) as primary domestic fuel for cooking. He said the corporation was aware of the huge success of the kerosene substitution program in Indonesia and would like a collaboration to help Nigeria achieve a similar feat.

NNPC added that it would also like to partner with Indonesia in the area of bio-fuels production to diversify the nation's energy mix and meet its energy needs. He challenged Indonesia to consider participating in an upcoming bid round in order to realize its aspiration of maintaining a presence in the Nigerian oil and gas sector.

 

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