Niger Signs $400M Crude Oil Deal with CNPC

Niger signed a memorandum of understanding with the state-owned China National Petroleum Corporation (CNPC) for the sale of crude oil from the Agadem oilfield. The deal is worth $400 million.

Jiang Feng, Chinese Ambassador to Niger, said the deal forms efforts by the two countries to strengthen cooperation.

A producing conventional oilfield, the Agadem field is located onshore Niger. The country is expected to transport oil from the field via the 110,000 barrels per day Niger-Benin pipeline. Launched in November 2023, the pipeline project is backed by CNPC subsidiary PetroChina. Crude will be transported to international markets via the port of Cotonou in Benin.