Niger: Key takeaways from the signing of the $400 million agreement with China National Petroleum Corp (CNPC)
Niger has recently struck a significant deal with the Chinese oil company China National Petroleum Corp (CNPC), worth $400 million. This agreement pertains to the sale of crude oil from its Agadem oil field, as reported by the Nigerien public television (RTN).
During the signing of this agreement, broadcasted on television, Prime Minister and Minister of Finance, Ali Mahaman Lamine Zeine, emphasized the deep friendship between China and Niger : « China is a great friend of Niger, and we cannot emphasize this enough ».
The details of this agreement include a Memorandum of Understanding between China and Niger, a joint crude oil marketing contract, and a contract for the advance payment on Niger’s share of the crude oil. These agreements mark a significant milestone in the cooperation between the two countries, strengthening economic and commercial ties.
The Agadem oil field in Niger represents a strategic resource for the country, and this agreement with CNPC will enable more efficient exploitation of this valuable resource. China, as a major economic partner of Niger, brings its expertise and financial support for the development of this crucial sector.
This transaction will not only contribute to Niger’s economic development but also enhance its position in the global crude oil market. The agreement will enable joint management of crude oil, thus ensuring positive economic benefits for Niger.
Prime Minister Zeine underscored the importance of this cooperation with China in Niger’s economic development. This agreement demonstrates mutual trust between the two countries and paves the way for new partnership opportunities in the energy sector.
