NNPC announces winners of 2017 Crude Term Contracts

The Nigerian National Petroleum Corporation (NNPC) has announced the list of successful bidders for the 2017/2018 crude oil term contracts. The list consists of 39 winners comprising 18 Nigerian companies, 11 international traders, 5 foreign refineries, 3 National Oil Companies (NOCs), and 2 NNPC trading arms.

In a statement posted on the corporation’s website, Group General Manager, Crude Oil Marketing Division (COMD), Mr. Mele Kyari announced the results and said the contract would run for one year effective January 1, 2017 for twelve consecutive circles of crude oil allocation.

According to the statement, all the contracts are for 32,000 barrels per day except for Duke Oil Limited, the oil trading arm of NNPC, which shall be for 90,000 barrels per day.

The companies are listed below;

16 Nigerian companies, excluding NNPC subsidiaries

1. Oando
2. Sahara Energy
3. MRS Oil and Gas
4. AA Rano
5. Masters Energy
6. Eterna Oil
7. Britannia-U
8. North West Petroleum
9. Optima Energy
10. AMG Petroleum
11. Setana Energy
12. Prudent Energy
13. Arkleen Oil and Gas
14. Emo Oil,
15. Bono
16. Hyde Energy

5 foreign refineries

1. Hindustan Energy
2. Varo Energy
3. Sonara Refinery
4. Bharat Petroleum
5. Cepa

11 international traders

1. Trafigura
2. ENOC Trading
3. BP Trading, Total Trading
4. UCL Petro Energy
5. Moco Trading
6. Levene Energy
7. Glencore
8. Litasco Supply and Trading
9. Heritage Oil

Term contracts were also awarded to India (Indian Oil Company), China (Sinopec), and South Africa’s SacOil based on government-to-government contracts.

NNPC’s subsidiaries that made the list included Duke Oil and Carlson/Hyson.

In publishing this, the corporation can be lauded for its transparency.

Read the rest at Thisday