Crude-for-Loan: Local Crude Demand Rises as NNPCL Faces Debt
NNPCL is struggling with its crude-for-loan agreements, which tie large portions of Nigeria’s oil to debt obligations. These commitments may last until 2029. At the same time, demand for crude oil from local refineries is growing. The Port Harcourt, Warri, and Dangote refineries are now operational, increasing the need for crude. NNPCL has pledged 272,500 … Read more