The Nigerian National Petroleum Corporation (NNPC) has awarded1.31 million barrels per day (bpd) of crude oil to 39 companies as part of its 2017 crude term contracts.
NNPC stated Tuesday that 18 Nigerian owned companies, 11 international trading houses, five foreign refineries, three foreign state-owned companies and two trading arms of the NNPC Group were selected after a transparent bid.
It said that 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 Limited, 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 explained that the decision to announce the winners reflected NNPC’s commitment to transparency. “We’ll ensure transparency and fairness in the process,” Baru stated.
It was however gathered 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.
