Nigeria Cuts Deal with Producers to Supply Oil to Refiners at Market Price

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reached an agreement with oil producers to supply crude oil to domestic refineries at market prices on Wednesday, ending a supply dispute that had strained relations with international oil companies.  Nigeria imports most of its fuel needs due to inadequate refining capacity, although a 650,000 barrel-a-day refinery built by Africa's richest man Aliko Dangote, and operational since February, should produce more than enough for the country’s needs. Earlier, Dangote…