China, Nigeria sign oil supply pact

PetroChina International and the Nigerian National Petroleum Corporation (NNPC) signed in Abuja on Friday an oil supply pact, with the latter selling 30,000 barrels of crude a day to the former.

Si Bingjun, managing director of PetroChina, and Edmund Daukoru, special adviser to Nigerian President Olusegun Obasanjo on Energy and Oil Matters, signed the contract on behalf of their respective sides. The contract is for a period of one year and is also at the prevailing cost of crude at the international market.