NNPC Awards Crude Swap Deals To 34 Companies

BEVERLY HILLS, July 16, (THEWILL) –┬áThe NNPC has given out contracts to 34 companies grouped into 15 consortiums to supply petrol in exchange for crude oil.

Award letters for the contracts were issued and distributed on Monday according to a report by Reuters quoting sources. While the contracts have not yet been signed, that is largely a formality as the terms have been negotiated, the sources said, and the list of companies is unlikely to change.

THEWILL reports that Nigeria depends mainly on imported fuel via the swap deals to service its needs as its four refineries with a combined capacity of refining 450, 000bpd have been in comatose for years because of neglect and corruption.

The successful companies include:

1: BP/Aym Shafa
2: Vitol/Varo
3: Trafigura/AA Rano
4: MRS
5: Oando/Cepsa
6: Bono/Akleen/Amazon/Eterna
7: Eyrie/Masters/Cassiva/Asean Group
8: Mercuria/Barbedos/Petrogas/Rainoil
9: UTM/Levene/Matrix/Petra Atlantic
11: Duke Oil
12: Sahara
13: Gunvor/Maikifi
14: Litasco /Brittania-U
15: Mocoh/Mocoh Nigeria.