BEVERLY HILLS, August 18, THEWILL) – In line with its avowed commitment to transparency and accountability in all its activities as committed by the new Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, the national oil company Sunday announced winners of its 2019/2020 Direct Sale of Crude Oil and Direct Purchase of Petroleum Products (DSDP) arrangement otherwise known as crude swap.
A statement in Abuja by the corporation’s Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, said following the completion of the 2019/2020 DSDP tender exercise, 15 consortia/companies made up of reputable and experienced international companies and Nigerian Downstream companies emerged successful to undertake the 2019/2020 DSDP arrangement.
The contract is for one year effective 1st October, 2019 to 30th September, 2020.
It listed the successful companies as follows:
- BP OIL INTERNATIONAL LTD./AYM SHAFA LTD.
- VITOL SA/CALSON-HYSON
- TOTSA TOTAL OIL TRADING SA/TOTAL NIG. PLC
- GUNVOR INTERNATIONAL B.V./AY MAIKIFI OIL & GAS CO. LTD.
- TRAFIGURA PTE LTD./A. A. RANO NIG. LTD
- CEPSA S.A.U./OANDO PLC
- MOCOH SA/MOCOH NIG. LTD.
- LITASCO SA/BRITTANIA-U NIG. LTD./FREEPOINT COMMODITIES
- MRS OIL & GAS COMPANY LTD
- SAHARA ENERGY RESOURCE LTD
- BONO ENERGY LTD./ETERNA PLC/ARKLEEN OIL & GAS LTD./AMAZON ENERGY
- MATRIX ENERGY LTD./PETRATLANTIC ENERGY LTD./UTM OFFSHORE LTD./LEVENE ENERGY DEVELOPMENT LTD
- MERCURIA ENERGY TRADING SA/ BARBEDOS OIL & GAS SERVICES LTD./RAINOIL LTD./PETROGAS ENERGY
- ASIAN OIL & GAS PTE LTD./ EYRIE ENERGY LTD./ MASTERS ENERGY OIL & GAS LTD/CASIVA LTD
- DUKE OIL COMPANY INCORPORATED.
The release stated that the tender process comprised technical and commercial bid submission respectively, evaluation and shortlisting, then commercial negotiations with prequalified companies and engagement of the successful consortia/companies by NNPC.
“Under the DSDP arrangement, the under listed fifteen (15) consortia/companies shall over the contract period, offtake crude oil and in return, deliver corresponding petroleum products of equivalent value to NNPC, subject to the terms of the agreement”, the release declared.
In his takeover note on 8 July, 2019, the newly appointed NNPC GMD, Mallam Kyari, had promised to open NNPC books to public scrutiny, saying as a publicly owned company Nigerians deserve to know about the operations of the Corporation.
He reiterated his Management’s team commitment to transparency and accountability when he had a maiden Town Hall engagement with the staff of the Corporation where he launched the team’s policy direction tagged: Transparency, Accountability, Performance and Excellence (TAPE).