Oando, Eterna Oil & Gas, Sahara Energy, 36 others to trade Nigerian crude in 2017

 

The Nigerian National Petroleum Corporation, NNPC, on Wednesday released the names of 39 bidders for 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, Mele Kyari, said the contract would run for one year effective from January1 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.

It would be recall that during the bid opening on November 26, 2016, the Group Managing Director of the corporation, 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.

The indigenous beneficiaries are Oando, Sahara Energy, MRS Oil and Gas, AA Rano, Bono, Masters Energy, Eterna Oil and Gas, Cassiva Energy, Hyde Energy and Brittania U.

Others are NorthWest Petroleum, Optima Energy, AMG Petroenergy, Arkiren Oil and Gas Limited, Shoreline Limited, Entourage Oil, Setana Energy and Prudent Energy.

The Nigerian National Petroleum Corporation, NNPC, yesterday, named Wale Tinubu’s Oando, Toye Cole’s Sahara Energy Resources, Sayyu Dantata’s MRS Oil and 36 other companies as winners of the crude oil term contract, for the purchase and lifting of 1.306 million barrels per day of Nigeria’s crude oil for 2017/2018, effective January 1, 2017. NNPC, in a statement in Abuja, said that the 39 successful bidders comprised 18 Nigerian companies, 11 international oil traders, five foreign refiners, three National Oil Companies, (NOCs) and two NNPC trading arms.

Read more at: http://www.vanguardngr.com/2017/01/tinubu-dantata-cole-ogah-others-clinch-nigerias-1-3mbd-oil-lifting-deal/