Oil dealers push NNPC to slash crude prices amid uncertainty of supply

Crude dealers are pushing the Nigeria National Petroleum Corp. (NNPC) to lower the official price at which it sells some of its crude cargoes, according to Bloomberg .

Five companies that market Nigeria’s crude have raised the issue of high official selling prices, Mele Kyari, general manager of the crude oil marketing division at NNPC, said.

Buyers of Nigerian crude are concerned that uncertainty about supplies from the country are making the nation’s barrels harder to resell, two traders familiar with the West African market were quoted as saying.

“We are aware,” Kyari said. “We have received several communications with our off-takers on this. We are assessing the comments to either validate or disprove it because sometimes you can’t be sure of the validity of these claims.”


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