The Nigerian National Petroleum Corporation (NNPC) Limited has secured a new export deal and will be shipping crude oil to a customer this month.
According to Trade Winds, the oil will be loaded onto the Greek-owned tanker Meltemi I on April 9 or 10. This tanker is operated by Delta Tankers and has a capacity of 164,000 deadweight tons. The shipment will be coordinated by NNPC Shipping.
“NNPC Trading finalized a deal in March to sell its first crude oil shipment to a major oil company,” said Panos Gliatis, managing director of NNPC Shipping.
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This shipment deal is based on an ex-ship agreement, meaning NNPC will handle the shipping and insurance. The tanker has the option to unload cargo at various ports in Europe.
“This is a significant achievement for NNPC and Nigeria since the market was previously focused on free-on-board transactions,” Gliatis added.
This new deal follows the company’s first shipments of liquefied natural gas (LNG) last year, which aligns with their goal of becoming a trusted global energy supplier.
Two LNG shipments were sent to Japan and China, with the first being delivered to Futtsu, Japan, using the LNG carrier Grazyna Gesicka, built in 2023.
NNPC has been involved in LNG trading since 2021 and is now planning to start a joint venture with Stena Bulk in Sweden.
This partnership will create a fleet of tankers and gas carriers for West African markets, aiming for an efficient fleet based on market demand.
This plan likely stems from a previous charter deal between NNPC Shipping and Stena. In October, NNPC Shipping also arranged for crude tankers to supply oil to Nigeria’s new Dangote refinery, securing two vessels for this purpose from the Stena Sonangol Suezmax Pool, managed by Stena and Angola’s oil producer Sonangol.
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