Oando, MRS, Eterna Oil and 36 other companies were yesterday revealed by the Nigerian National Petroleum Corporation (NNPC) as winners of a bid held in November 2016, to lift a total of 1.306 million barrels per day of the country’s crude oil for sale in the international market for the 2017/2018 year.
The successful bidders comprise 18 Nigerian companies, 11 international traders, five foreign refineries, three national oil companies (NOCs) and two NNPC trading subsidiaries, who were successful in the bid held in November 2016.
They include: AMG Petroenergy, Oando, Sahara Energy, MRS Oil and Gas, A.A. Rano, Bono, Masters Energy, Eterna Oil and Gas, Cassiva Energy, Hyde Energy, Brittania-U, Northwest Petroleum, Shoreline, Optima Energy, Arkleen Oil & Gas Ltd, Emo Oil, Setana Energy and Prudent Energy from the local front.
The international oil traders include: Trafigura, ENOC Trading, BP Trading, Total Trading, UCL Petro Energy, Mocho, Heritage Oil, Glencore, Tevier Petroleum, Levene Energy and Litasco Supply & Trading, while the government-to-government categories include India Oil Company, Sinopec of China and Saccoil of South Africa and the two NNPC arms, Duke Oil and Carlson Hyson.
A statement by the NNPC revealed that all the contracts are for 32,000 barrels per day, except Duke Oil Ltd, an oil trading arm of the Corporation, which was offered 90,000 barrels per day lifting permit. By implication, the country is expected to export 1.306 million barrels per day, and using an average market price of $55 per barrel, Nigeria could generate $71.83 million per day from the contract.
The contracts, according to the Corporation’s group general manager, Crude Oil Marketing Division (COMD), Mr. Mele Kyari, would run for one year effective January 1, 2017 for consecutive 12 circles of crude oil allocation.
The statement signed by the group general manager, Group Public Affairs Division, Ndu Ughamadu, explained that the release of the list is in furtherance of its drive to remain an open, transparent and accountable organisation.
Ughamadu recalled that during the bid opening in November 2016, the group managing director of the Corporation, Dr. Maikanti Kacalla Baru, had assured the public that NNPC would ensure due process, transparency and fairness in the selection process.
“We will ensure transparency and fairness in the process. There is nothing that is hidden, just as you have seen today,” Dr. Baru had stated during the bid opening which was beamed live to the world.
A total of 224 bids were submitted by companies seeking to purchase and lift Nigerian crude oil grades for the period.
