Indonesia to Buy More Crude Oil from Nigeria

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Mr Harry Purwanto, the Indonesian Ambassador to Nigeria, on Wednesday made known his country’s interest in purchasing more crude oil from Nigeria.

Purwanto made the declaration in Abuja, during a courtesy visit to the Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Dr Maikanti Baru.

In a statement signed by Mr Ndu Ughamadu, Group General Manager, Group Public Affairs Division, Purwanto, said Indonesia looked forward to lifting crude oil directly from Nigeria, rather than through a third-party as is currently the case.

The ambassador also reiterated the instruction from his country’s president Joko Widodo, that the Indonesian National Oil Company, Pertamina, should direct its attention to Nigeria in its quest to meet that country’s surging energy needs.

As contained in the statement, the ambassador invited the NNPC to atend the Indonesia-Nigeria Business Forum billed to hold in Lagos.

Purwanto also noted that a Memorandum of Understanding, on possible areas of co-operation between the two countries was being prepared.

According to Ughamadu, the call by the ambassador signified the prospects of soaring Nigeria’s market share in Asian emerging economies which include China and India, having lost grounds in crude oil sales in the U. S. due to shale oil exploration.

He said enen though Indonesia produces about 900,000 barrels of crude oil per day, it supplements its 1.4 million barrels per day consumption with supplies from Nigeria, 18 per cent and Saudi Arabia, 28 per cent.

Baru, while reacting to the statement, said the NNPC was interested in working with Indonesia on its initiative to replace firewood and kerosene with Liquefied Petroleum Gas (LPG) as primary domestic fuel for cooking.

He acknowledged that the corporation was aware of the huge success of the kerosene substitution programme in Indonesia and would like a collaboration to help Nigeria achieve a similar feat.

Baru aslo declared the NNPC’s interest and readiness to partner with Indonesia in the area of bio-fuels production to diversify the nation’s energy mix and meet its energy needs.

Edited by McDike Dimkpa

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