The Nigerian National Petroleum Corporation (NNPC) on Wednesday released names of 39 companies that will be involved in the sale and purchase of Nigerian crude for 2017/2018.
Announcing the results on its Website, the Group General Manager, Crude Oil Marketing Division NNPC, Mr Mele Kyari, said the contract would run for one year effective from January 1 for consecutive 12 circles of crude oil allocation.
The list comprises 39 winners with 18 Nigerian companies, 11 International Traders, five foreign refineries, three National Oil Companies (NOCs) and two NNPC trading arms.
It said all the contracts were for 32,000 barrels per day except Duke Oil Ltd, an oil trading arm of the NNPC, which shall be for 90,000 barrels per day.
During the bid opening on Nov. 26, 2016, the Group Managing Director of the corporation, Dr Maikanti Baru, assured the public that NNPC would ensure due process, transparency and fairness in the selection process.
Also, a total of 224 bids were submitted by companies seeking to purchase and lift Nigerian crude oil grades for the period 2017/2018.
Others are NorthWest Petroleum, Optima Energy, AMG Petroenergy, Arkiren Oil and Gas Limited, Shoreline Limited, Entourage Oil, Setana Energy and Prudent Energy.
The international beneficiaries are Trafigura, ENOC Trading, BP Trading, TOTAL Trading, UCL Petroenergy, Mocho, Tevier Petroleum, Heritage Oil, Levene Energy, Glencore and Latasco Supply and Trading.
The five foreign refineries are Hindustan Refinery, Varo Energy, Sonara Refinery, Bharat Petroleum and Cepsa while the NOCs are India Oil Company, China (Sinopec) and South Africa (Saccoil).
The NNPC trading arms are Duke Energy and the Carlson Hyson.
Credit: All Africa