With Nigeria losing out its US market, demand for the country’s crude from the Far East continues to rise.
Indonesia on Wednesday expressed desire to increase its crude oil purchase from Nigeria, in a bid to meet the country’s bourgeoning appetite for the commodity that has risen to 1.6 million per day.
Dwiyatna Widinugraha, the head of economic affairs of the Indonesian Embassy, has submitted the request when he led an Indonesian trade delegation to a meeting with the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Maikanti Baru in Abuja.
Widinugraha said Indonesia with a population of more than 250 million people needed about 1.6 million barrels of crude oil daily to meet its burgeoning energy needs as an emerging economy.
Indonesia, according to the envoy, would prefer to have a government-to-government crude lifting arrangement with Nigeria.
Regular supply of crude by the NNPC, he added, helped Indonesia to achieve energy sufficiency, adding that the country needed further assistance in the form of increased crude oil allocation.
The Indonesia delegation included top shots from the country’s state-owned oil company Pertamina. The company’s vice president , Anizar Burlian, said the delegation came to explore better arrangements of buying the country’s very high grade crude oil.
“Over the years, we have bought huge amount of crude oil from Nigeria. We are extremely happy to buy more Nigerian crude oil which is globally rated to be of very high grade and which is very suitable for our refineries,” Burlian said.
Mele Kyari, NNPC’s group general manager, crude oil marketing, however, said while the corporation was ready to assist Indonesia in the area of crude oil supply, the request for a government-to-government crude supply arrangement should be routed through President Muhammadu Buhari.