Home / AFRICA / BREAKING: NNPC, Nigeria’s State Oil Firm, Announces Oil Lifting Companies For 2019/2020

BREAKING: NNPC, Nigeria’s State Oil Firm, Announces Oil Lifting Companies For 2019/2020

As the national refineries remain moribund, the Nigeria National Petroleum Corporation (NNPC), on Sunday announced a new set of companies that will lift the country’s crude oil and supply it with refined petroleum products. 

In a press release obtained from its Twitter handle, @NNPCgroup, it said a batch of 15 consortia were chosen in an open tender to sell petroleum and purchase the  commensurate value of refined products from October 1, 2019 to September 31, 2020. 

The corporation, however, stopped short of listing the barrels of petroleum per day each group of firms are to carry and dispose of. 

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“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,” said a statement by NNPC’s spokesman, Ndu Ughamadu.

The companies selected are listed below.

1.  BP OIL INTERNATIONAL LTD./AYM SHAFA LTD.

2.  VITOL SA/CALSON-HYSON

3.  TOTSA TOTAL OIL TRADING SA/TOTAL NIG. PL

4.  GUNVOR INTERNATIONAL B.V./AY MAIKIFI OIL & GAS CO. LTD.

5.  TRAFIGURA PTE LTD./A. A. RANO NIG. LTD

6.  CEPSA S.A.U./OANDO PLC

7.  MOCOH SA/MOCOH NIG. LTD.

8.  LITASCO SA/BRITTANIA-U NIG. LTD./FREEPOINT COMMODITIES

9.  MRS OIL & GAS COMPANY LTD

10. SAHARA ENERGY RESOURCE LTD

11. BONO ENERGY LTD./ETERNA PLC/ARKLEEN OIL & GAS LTD./AMAZON ENERGY

12. MATRIX ENERGY LTD./PETRATLANTIC ENERGY LTD./UTM OFFSHORE LTD./LEVENE ENERGY DEVELOPMENT LTD

13. MERCURIA ENERGY TRADING SA/ BARBEDOS OIL & GAS SERVICES LTD./RAINOIL LTD./PETROGAS ENERGY

14. ASIAN OIL & GAS PTE LTD./ EYRIE ENERGY LTD./ MASTERS ENERGY OIL & GAS LTD/CASIVA LTD

15. DUKE OIL COMPANY INCORPORATED.

The corporation said the tender process comprised of technical and commercial bid submission, as well as evaluation and shortlisting. This was followed by commercial negotiations with prequalified companies and the subsequent engagement of the successful consortia/companies by NNPC.

The Buhari administration did away with the shady offshore processing agreement or oil – swap – deal in August 2015, in favour of the direct sale – direct purchase agreement used presently. Between 2010 and 2014, media reports say the country lost petroleum products in excess of $35 billion, with Diezani Alison-Madueke, ex-Minister of Petroleum Resources said to be the overseer of the scheme.

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