breaking

Niger Secures 45% Stake in China-Backed Pipeline, Cuts Transport Costs

Niger has renegotiated its position in the West African Oil Pipeline Co., securing a 45% ownership stake in the Niger-Benin export route after previously holding no effective share. The agreement reduces transport tariffs to $15 per barrel from $27, generating an estimated $106 million in annual government savings. The move reflects Beijing's intensified push to secure reliable crude supplies amid global market disruptions. The West African nation's increased equity stake marks a significant shift in the pipeline's ownership structure and underscores the strategic importance of stable petroleum routes for major consuming economies. The tariff reduction provides substantial fiscal relief for Niger's government while securing its long-term participation in the pipeline connecting regional oil reserves to international markets.