NNPC Names 18 Local Firms, 11 Int’l Traders, Others For 2017/2018 Crude Oil Contract

NNPC Names 18 Local Firms, 11 Int’l Traders, Others For 2017/2018 Crude Oil Contract

The Nigerian National Petroleum Corporation (NNPC), on Tuesday night announced the names of 39 successful bidders for its 2017/2018 crude oil term contract out of the total 224 bids submitted.

The contract for the successful bidders including 18 Nigerian companies, 11 international traders, five foreign refineries, three national oil companies and two NNPC trading arms contract, according to the corporation, “will run for one year effective 1stJanuary 2017 for consecutive twelve circles of crude oil allocation.”

The corporation in a series of tweets on its official handle noted that all “the contracts are for 32,000 bpd (barrels per day) except Duke Oil Ltd, a subsidiary of the NNPC Group, which shall be for 90,000bpd.”

The statement recalled that the NNPC Group Managing Director, Maikanti Baru had during the bid opening in November last year assured the public of transparency and fairness in the selection process.”

“We’ll ensure transparency and fairness in the process. There’s nothing hidden just as you’ve seen today,” he had told the bidders.

The successful Nigerian bidders included: Oando, Sahara Energy, MRS Oil & Gas, A.A. Rano, Bono, Masters Energy, Eterna Oil & Gas, Cassiva Energy, Hyde Energy, Britania-U, North West Petroleum, Optima Energy, AMG Petroenergy, Arkleen Oil & Gas Ltd, Shoreline Limited, Emo Oil, Prudent Energy and Setana Energy. The NNPC trading companies are: Duke Oil Limited and Carlson Hyson.

The refineries are: Hindustan Refinery, Varo Energy, Sonara Refinery, Bharat Petroleum and Cepsa; while the international traders include: Transfigura, ENOC Trading, BP Trading, Total Trading, UCL Petro Energy. Mocho and Tevier Petroleum. Others are: Heritage Oil, Levene Energy, Glencore, Litasco Supply and Trading.

The successful government to government bidders are: India (India Oil Company), China (Sinopec), South Africa (Saccoil).