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HomeNewsBusinessOando, Sahara, Trafigura, 36 others win NNPC’s oil lifting contract

Oando, Sahara, Trafigura, 36 others win NNPC’s oil lifting contract

The Nigerian National Petroleum Corporation (NNPC), yesterday, announced 39 companies as winners of the 2017/2018 crude oil term contract, for the purchase and lifting of Nigeria’s crude oil. 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 successful bidders, the NNPC said, 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,” the NNPC said. Some of the local companies are: Oando, Sahara, MRS Oil and Gas, A.A. Rano, Bono, Masters Energy, Eterna Oil and Gas, Cassiva Energy, Hyde Energy, Brittania-U, Northwest Petroleum and Shoreline Limited, among others. The International oil traders are Trafigura, ENOC Trading, BP Trading, Total Trading, Heritage Oil and Glencore among others. In the Government-to-Government category, the companies are India Oil Company, Sinopec of China and Saccoil of South Africa. The two NNPC subsidiaries are Duke Oil and Carlson Hyson. 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. It would 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.

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