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Niger: CNPC drops Soraz crude price

China National Petroleum Corporation (CNPC) has revised its crude sales contract with the government, dropping the price at which it sells crude to the Société de Raffinage de Zinder (Soraz) refinery to $57, from $70 previously. The $70 price was fixed in the contract for the 20,000 b/d refinery signed in 2008 because the government wanted price stability, but at current market prices this makes the refinery’s production uncompetitive.

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