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Winners emerge on NNPC’s 2017/18 crude term contract

The Nigerian National Petroleum Corporation (NNPC) Wednesday announced names of 39 bidders for the sale and purchase of Nigerian crude for 2017/2018.

The request for the expression of interest had been on since last year where experts say this is time to give room for more local content in the sector.

However, the released names reflected more number of local players unlike previous years where the deal is dominated by foreign operators.

Details accessed from the official website of NNPC indicated that the list comprises 39 winners with 18 Nigerian companies, 11 International Traders, five foreign refineries, three National Oil Companies (NOCs) and two NNPC trading arms.

The Group General Manager, Crude Oil Marketing Division NNPC, Mr Mele Kyari, said the contract would run for one year effective from Jan. 1 for consecutive 12 circles of crude oil allocation.

Further details on the site added that all the contracts were for 32,000 barrels per day except Duke Oil Ltd, an oil trading arm of the NNPC, which shall be for 90,000 barrels per day.

Besides, a total of 224 bids were submitted by companies seeking to purchase and lift Nigerian crude oil grades for the period 2017/2018.

The list of local winners includes Oando, Sahara Energy, MRS Oil and Gas, AA Rano, Bono, Masters Energy, Eterna Oil and Gas, Cassiva Energy, Hyde Energy and Brittania U.

Others are NorthWest Petroleum, Optima Energy, AMG Petroenergy, Arkiren Oil and Gas Limited, Shoreline Limited, Entourage Oil, Setana Energy and Prudent Energy.

Foreign players include Trafigura, ENOC Trading, BP Trading, TOTAL Trading, UCL Petroenergy, Mocho, Tevier Petroleum, Heritage Oil, Levene Energy, Glencore and Latasco Supply and Trading.

Whereas the NNPC trading arms are Duke Energy and the Carlson Hyson, five foreign refineries are Hindustan Refinery, Varo Energy, Sonara Refinery, Bharat Petroleum and Cepsa while the NOCs are India Oil Company, China (Sinopec) and South Africa (Saccoil).