Home Business Niger Resumes Oil Exports to Benin After Months-Long Dispute
BusinessNews

Niger Resumes Oil Exports to Benin After Months-Long Dispute

1.2k

Niger has resumed crude oil exports to Benin following a resolution of the dispute that had halted the flow of oil through a Chinese-funded pipeline. The pipeline, which stretches nearly 2,000 kilometres from Niger’s Agadem oilfield to the Benin coast, had been blocked since June due to political tensions between the two nations.

The conflict began when Niger refused to lift its ban on imported goods from Benin, leading to Benin’s decision to halt oil exports through the pipeline. Despite the Economic Community of West African States (ECOWAS) lifting sanctions on Niger earlier this year, Niger maintained its border closure, further straining relations.

Negotiations eventually led to a breakthrough, although it is not yet clear what the recent agreement is. Talks between Niger’s military junta leader Abdourahamane Tchiani and two former Beninese presidents, Thomas Boni Yayi and Nicephore Soglo, facilitated the deal that allowed exports to resume.

Niger’s oil exports are part of a $400 million deal with China National Petroleum Corp (CNPC). The agreement allows Niger to repay a loan from China through oil shipments over 12 months. The pipeline in question is operated by the West African Gas Pipeline Company (WAPCO) and has a capacity of 90,000 barrels per day.

Read More:

About The Author

Related Articles

News

Asake Sets New Billboard Afrobeats Record as Chart Presence Grows

Asake has further cemented his place as one of Afrobeats’ most dominant...

BusinessNews

Nigerians Lament PayPal’s Return as Old Wounds Resurface

PayPal’s reentry into Nigeria through a partnership with local fintech company Paga...

FinanceNews

Tanzania Eyes Gold Sales as Aid Declines and Infrastructure Needs Grow

Tanzania is weighing plans to sell part of its gold reserves to...

NewsSecurity

Mali Tightens Grip on Explosives Supply With New Majority Stake

The Malian government has taken majority ownership of a civil explosives manufacturing...