In furtherance of its drive to remain an open, transparent and accountable organisation, the Nigerian National Petroleum Corporation (NNPC) has announced the list of successful bidders for the 2017/2018 crude oil term contract.
Announcing the results today, 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.
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.
Contract holder Volume ('000 bpd) Refiners Hindustan Refinery 32 Varo Energy 32 Sonara Refinery 32 Bharat Petroleum 32 Cepsa 32 International Trading Companies Trafigura 32 ENOC 32 BP Trading 32 Total Trading 32 UCL Petro Energy 32 Mocoh Trading 32 Trevier Petroleum 32 Heritage Oil 32 Levene Energy 32 Glencore 32 Litasco Supply and 32 Trading Government to Government Indian Oil Corp. (India - 32 IOC) Sinopec (China) 32 SacOil (South Africa) 32 Nigerian Companies Oando 32 Sahara Energy Resouce LTD 32 MRS Oil and Gas 32 A.A. Rano Nigeria Limited 32 Bono 32 Masters Energy 32 Hyde Energy 32 Britania-U 32 North West Petroleum 32 Optima Energy 32 AMG Petroenergy 32 Arkleen Oil & Gas Ltd 32 Shoreline Limited 32 Emo Oil 32 Setana Oil 32 Prudent Energy 32 NNPC Trading Companies Calson/Hyson 32 Duke Oil Incorporated 90 Total: 39 1.31 million