NNPC Approves 39 Companies To Lift Crude Oil In 2017

NNPC - Nigerian National Petroleum Corporation
Nigeria National Petroleum Corporation, NNPC

The Nigerian National Petroleum Corporation, NNPC has announced the list of successful bidders for the purchase and lifting of 1.306 million barrels per day of Nigeria’s crude oil for 2017/2018 crude oil term contract.

Announcing the results, the Group General Manager, Crude Oil Marketing Division (COMD) of the Corporation, Mr. Mele Kyari said the contract will run for one year effective 1st January 2017 for consecutive twelve circles of crude oil allocation.

The list consists of 39 winners with 18 Nigerian Companies, 11 International Traders, five foreign refineries, three National Oil Companies (NOCs) and two NNPC trading arms.

All the contracts are 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.

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The other Nigerian companies are: Wale Tinubu’s Oando, Toye Cole’s Sahara Energy Resources, Sayyu Dantata’s MRS Oil and Gas, Uche Ogah’s Masters Energy, Alhaji Auwalu Rano’s A.A. Rano Nigeria Ltd, Oladimeji Edwards’ Hyde Energy, and Uju Ifejika’s Britania-U. The list also includes North West Petroleum and Optima Energy, AMG Petroenergy, Arkleen Oil & Gas Ltd, Shoreline Ltd, Emo Oil, Setana Oil and Prudent Energy.

The International oil traders are Trafigura, ENOC, BP Trading, Total Trading, UCL Petro Energy, Mocoh Trading, Trevier Petroleum, Heritage Oil, Levene Energy, Glencore and Litasco Supply and Trading Company. In the government-to-government category, the companies are India Oil Company, Sinopec of China and Saccoil of South Africa, while the two NNPC subsidiaries are Duke Oil and Carlson Hyson.

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It could be recalled that during the bid opening in November 2016, Group Managing Director of the Corporation, Dr. Maikanti Kacalla Baru had assured the public that NNPC will ensure due process, transparency and fairness in the selection process.

“We will ensure transparency and fairness in the process. There is nothing that is hidden just as you have seen today”, Dr. Baru stated during the bid opening which was beamed live to the world.

A total of two hundred and twenty four (224) bids were submitted by companies seeking to purchase and lift Nigerian crude oil grades for the period 2017/2018.

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