The
Nigerian National Petroleum Corporation (NNPC), has signed an interim Offshore
Processing Agreement (OPA) with three of its joint venture companies.
This
is contained in a statement signed by Mr Ohi Alegbe, NNPC’s Group General
Manager, Group Public Affairs Division and made available to newsmen on
Wednesday in Abuja.
It
said that the three companies that signed the agreement were Duke, Carlson and Napoil oil companies.
It
said that NNPC was determined to sustain the prevailing unimpeded nationwide
supply and distribution of petroleum products.
According
to the statement, the agreement with the companies was designed to boost the
supply of refined petroleum products across the country.
It
said that the `stop-gap OPA’ arrangement, 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.
The
statement said that the temporary OPA agreement would lapse with the advent of
a fresh OPA contracts being envisaged which would take 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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