The Nigerian National Petroleum
Corporation (NNPC) has secured an interim Offshore Processing Agreement
(OPA) with three of its Joint Venture companies namely Duke Oil, Carlson
and Napoil, to boost the supply of refined petroleum products.
This followed its determination to sustain the prevailing unimpeded.......
nationwide supply and distribution of petroleum products.
A statement yesterday by NNPC spokesman
Ohi Alegbe, noted that the stop-gap OPA arrangement which is designed to
run for three months obliges the Corporation to allocate a certain
volume of crude oil within the period for refining at offshore locations
in exchange for petroleum products at pre-agreed yield pattern.
The Corporation explained that the
temporary OPA package will lapse with the advent of the fresh OPA
contracts envisaged to come into effect at the end of the ongoing public
tender process.
It noted that the OPA arrangement would
help augment in-country production of refined petroleum products from
the nation’s refineries to meet local demand.
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