NNPC Awards 2017 Crude Term Contracts To 18 Nigerian Oil Companies, Others

BEVERLY HILLS, January 03, (THEWILL) – The Nigerian National Petroleum Corporation (NNPC) says it has awarded1.31 million barrels per day (bpd) of crude oil to 39 companies as part of its 2017 crude term contracts.

NNPC in a statement Tuesday said18 Nigerian owned companies, 11 international trading houses, 5 foreign refineries, three foreign state owned companies and two trading arms of the NNPC Group were selected after a transparent bid.

It said the contracts, worth a total of more than $72 million per day at Tuesday’s crude prices of around $55.60 per barrel, were each for 32,000 barrels per day (bpd), apart from Duke Oil Ltd, an NNPC Group subsidiary, which was for 90,000 bpd.

Group General Manager, Maikanti Baru said the group had received bids from 224 companies. He said the decision to announce the winners reflected NNPC’s commitment to transparency. “We’ll ensure transparency and fairness in the process,” Baru said in a statement.

THEWILL can however report that some notable companies which featured in the contracts for 2016 and 2015 like Shell, Eni, ExxonMobil, Taleveras, Aiteo, Mercuria and Refiner Saras were not selected.

Here’s a breakdown of the winners: –

Hindustan Refinery
Varo Energy
Sonara Refinery
Bharat Petroleum

International Trading Companies
BP Trading
Total Trading
UCL Petro Energy
Mocoh Trading
Trevier Petroleum
Heritage Oil
Levene Energy
Litasco Supply and Trading

Government to Government
Indian Oil Corp. (India – IOC)
Sinopec (China)
SacOil (South Africa)

Nigerian Companies
Sahara Energy Resources LTD
MRS Oil and Gas
A.A. Rano Nigeria Limited
Masters Energy
Hyde Energy
North West Petroleum
Optima Energy
AMG Petroenergy
Arkleen Oil & Gas Ltd
Shoreline Limited
Emo Oil
Setana Oil
Prudent Energy

NNPC Trading Companies
Duke Oil Incorporated

***Reuters contributed to this report.