NNPC, BP sign petrol supply agreement ahead of 2019 elections

Moves to guarantee petrol availability nationwide and all-year-round was solidified, on Thursday, as the Nigerian National Petroleum Corporation (NNPC) has signed a six-month Direct Sale-Direct Purchase (DSDP) agreement with the British Petroleum’s (BP) trading arm, BP Oil International Limited, for the supply of Premium Motor Spirit, also known as petrol.

This latest agreement will represent 20 per cent of NNPC’s total PMS supply under the DSDP arrangement, which basically allows the corporation to exchange crude oil with international oil traders for imported petroleum products over a period of time.

Speaking shortly after a brief signing ceremony at the NNPC Towers, on Thursday, Group Managing Director of the corporation, Dr. Maikanti Baru, said as the nation’s products supplier of last resort, NNPC was committed to products availability by inviting new and old players to play in the Nigerian oil sector.

He said over the years, BP had demonstrated the capacity and robustness to augment the forecasted shortfall by NNPC, especially as the winter period approaches and as the nation’s elections get underway early into the New Year.

Source: The Sun

 

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