Nigeria to export 20,000bpd crude oil to Liberia




Nigeria may soon commence export of 20,000 barrels per day (bpd) of crude oil to Liberia, sequel to a contract agreement already concluded between Nigerian National Petroleum Corporation (NNPC) and Liberia Petroleum Refinery Company (LPRC).


The contract, which is expected to last for a period of 12 months, according to the management of the LPRC, is also renewable for an additional period of 12 months upon negotiations between the LPRC and Nigeria National Petroleum Corporation (NNPC).In a statement on Wednesday by LPRC, Managing Director, Nelson Williams, said that the contract brings with it huge revenue benefits to the Liberian government, which in return, will be used for other construction projects.


He added: “This manifestation of assistance will enable the government of Liberia to accrue about $120,000 per month, an amount that will be used for national reconstruction projects.”He disclosed that owing to the fact that the LPRC does not have refinery facilities, it has signed what he called “Management Service Contract (MSC),” on the same day it signed the contract with NNPC and the Sahara Energy Resource Limited.


“As for the terms of reference agreed between the MSC  and  the  Sahara Energy Resource Limited, the company will  have oversight  in the managing the  operations, logistics and arrangements for lifting the oil, including programming, loading, transportation and trading of the cruel oil.“Sahara is an international oil trading company conducting business in several countries around the world. It is currently involved in similar arrangements in several West African nations”, he added.


According to the LPRC, Sahara shall be responsible to provide a monthly report to the LPRC on allocation from the NNPC.The process following the award of contract to Sahara, the LPRC said, met all of the requirements.


Williams said four companies bided for the contract, out of which Sahara was declared winner, based on its rich credentials, as confirmed by authorities of other countries in which the company has assets.Relishing the contract as major breakthrough, LPRC said the signing is a goodwill of the government of Nigeria, as Liberia or the LPRC will not pay a dime, whatsoever, for lifting of the oil.






Comments are closed.