Nigeria Signs $3 Billion Crude for Fuel Deals, Guardian Reports

Nigeria signed agreements with Amsterdam-based trading company, Trafigura Beheer BV, and Ivory Coast’s sole refiner, Societe Ivoirienne Raffinage, to provide them with crude oil in exchange for refined products, the Guardian reported.

The two companies will supply the country with half of its monthly imports, or 300,000 metric tons, over two years, the Lagos-based newspaper said, without saying where it got the information.

Nigeria, Africa’s top oil producer, relies on fuel imports for more than 70 percent of its domestic needs, according to the Petroleum Ministry.

To contact the reporter on this story: Paul Okolo in Abuja pokolo@bloomberg.net.

To contact the editor responsible for this story: Peter Hirschberg at phirschberg@bloomberg.net.

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