SAN FRANCISCO, May 15, (THEWILL) – The Nigerian National Petroleum Corporation, NNPC, has awarded oil-lifting contracts to 50 companies and 32 of them are Nigerian firms, governments and foreign companies make up the rest.
The oil deals are coming with just 9 months to the general elections with President Muhammadu Buhari seeking reelection. The ruling party usually receives financial donations for elections from oil and gas companies and businessmen.
The 2018 oil contracts are for two years as against the previous practice of awarding one year, according to a Reuters report, suggesting that the list of awardees may be expanded.
THEWILL can report that Nigeria’s daily oil production stands at about 2 million barrels per day but exports are lower with the shut down for repairs of the key Trans – Forcados Trunkline due to leakages.
The winners are:
Ocean Bed (Sahara trading subsidiary)
West African gas
Zitts and Lords
Obat Oil & Gas
Duke Oil (NNPC subsidiary)
International trading firms and refiners:
Augusta, Switzerland based
BB Energy, Lebanon
Glencore, Switzerland based
HPCL, Indian refiner
Litasco, Trading arm of Russia’s Lukoil
Sacoil, South Africa
SEER, South Africa’s SacOil Energy Equity Resources Ltd
Socar, Trading arm of Azerbaijan’s Socar
Calson, Vitol/NNPC joint venture
Sonara, Cameroon refining co