Sending further shockwaves to tanker owners calling in West Africa Nigeria’s state oil company said yesterday it has nixed its contract for the delivery of crude to the country’s refineries in Warri, Port Harcourt and Kaduna.
“The corporation has cancelled the current contract due to exorbitant cost and inappropriate process of engagement,” a Nigerian National Petroleum Corp (NNPC) statement said.
NNPC also terminated offshore processing agreements (OPAs) made in January with Duke Oil Company, Aiteo Energy Resources and Sahara Energy Resources. New OPAs are likely to be handed to local companies.
Earlier this week crude oil swap deals for refined products between NNPC and oil traders were barred.
A month back more than 100 international tanker owners were also barred from calling in Nigeria as part of massive sweeping reforms to the nation’s energy sector.
