The Nigerian National Petroleum Corporation, NNPC has revealed that a total of 224 foreign and local companies have submitted their bids to export Nigeria’s crude oil in 2017.
This was made known by the Group Managing Director (GMD) of the corporation, Dr. Maikanti Baru while speaking at the 2016/2017 NNPC Crude Term Contract Tender Opening conducted at the corporate headquarter of the Nigerian National Petroleum Corporation (NNPC) in Abuja on Thursday.
“Today’s event marks yet another turning point in our quest to further enshrine transparency and accountability, two critical core values of our Corporation. Most importantly, it underscores our commitment to conduct our business in line with best practice and with utmost integrity and respect for all,” he said.
He stated that the Corporation’s focus as a National Oil Company (NOC) is to enhance production volumes, as well as ensure the realisation of best value through competitive marketing of the nation’s crude grades to international refineries and traders.
Also speaking on the significance of the event, he said the event is part of the process of ensuring that Mr. President’s transparency and accountability agenda is fully entrenched in the corporation’s operations.
“Today, we are opening this bid before the entire world in line with His Excellency, President Muhammadu Buhari’s drive for transparency and accountability in the conduct of government business,’’ he said.
On the security of the pipeline carrying crude oil to the ports for export which has in recent time become a focus of vandalism by the Niger Delta militants, Baru stated that the NNPC is collaborating with key stakeholders in the oild industry to improve on the overall security of its production sites and ensure the safety of the environment.
“We are devising new strategy anchored on the use of cutting edge technology, qualified people and improved processes to safeguard our crude export lines and other critical oil and gas infrastructure,” he stated.
Answering question from journalists, Dr. Baru disclosed that the NNPC has no dealings with payments made by those who purchased Nigerian crude stressing that payment is made directly to the federation accounts operated by the Central Bank of Nigeria (CBN).
He disclosed that the Nigerian crude is in high in demand in the international market because of the value. “There have been speculations that we have been struggling for market, that is not true, Nigerian crude has continue to earn premium and is a hot cake all over the place because of the light nation of the crude and the valuable products that can be derived from it. The Nigerian crude will continue to maintain market contrary to speculations,” he stated.
