OPEC

Nigeria Plans More Counter-Trade 

Like Iran, Nigeria is planning to put greater emphasis on counter-trade deals which link crude sales to purchases of goods from abroad, according to the Nigerian Oil Minister, Mr. Tam David-West. Speaking at a news conference in Lagos on 22 April, Mr. David-West made it clear that Nigeria would not engage in oil barter, which is frowned upon by OPEC, but said that there could be no objection to counter-trade "as a strategy for national...