Nigeria’s state oil firm NNPC has signed a $1.5 billion prepayment deal led by Standard Chartered and backed by oil traders Vitol Group and Matrix Energy, two sources close to the matter said, the first such agreement since the coronavirus pandemic upended the finances of Africa’s largest economy. According to Reuters, the deal provides OPEC-member… for further reading click on https://businessday.ng/energy/oilandgas/article/oil-trading-giants-vitol-matrix-to-hand-nigeria-1-5bn-in-advance-payment-for-its-oil/
SOURCE: BusinessDay Newspaper 28 July, 2020.