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Share Price Information for BP (BP.)

London Stock Exchange
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Share Price: 471.00
Bid: 470.40
Ask: 470.60
Change: 0.50 (0.11%)
Spread: 0.20 (0.043%)
Open: 468.40
High: 473.15
Low: 467.30
Prev. Close: 470.50
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Nigeria's NNPC signs crude-for-product swap deal with BP

Thu, 01st Nov 2018 10:18

LONDON, Nov 1 (Reuters) - Nigeria's state oil firm NNPC saidit had signed a crude-for-product swap deal with oil major BP.

In its brief statement on Twitter late on Wednesday, NNPCsaid more details would be provided later. BP and NNPC did notimmediately respond to requests for comment on Thursday.

NNPC imports about 70 percent of Nigeria's fuel needs,mainly gasoline, via swap contracts. NNPC has contracts, knownas Direct Sale Direct Purchase, with 10 consortiums that includetrading houses Vitol, Trafigura, Mercuria and oil major Total.

NNPC extended the existing contracts to June 2019 butseveral trading sources in the consortiums said they hadrequested new price terms.(Reporting by Julia PayneEditing by Edmund Blair)

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