Chinese oil firms in Niger race to return $5.2 billion in outstanding crude oil export revenues as authorities issue 45-day deadline

Niger has given Chinese oil companies 45 days to address alleged breaches of their petroleum agreements, including the repatriation of more than $5.2 billion in crude oil export revenues, as the military-led government increases pressure on its biggest oil-sector partner. The government claims more than $5.2 billion in oil export revenue has not been returned to Niger since crude exports began in April 2024.
Authorities accuse CNPC, WAPCO, and SORAZ of not fulfilling contractual obligations, causing significant losses to the national treasury and local banks.
Niger’s export earning repatriation rate is only 6%, far below the West African regional average of over 70%.