The Nigerian National Petroleum Corporation (NNPC) has awarded 1.31 million barrels per day (BPD) of crude oil to 39 companies as part of its 2017 crude term contracts.
A statement by the Group Managing Director at the Public Affairs Division, Ndu Ughamadu, revealed the companies were selected for the term contracts after a transparent bid by 224 companies in December 2016.
The companies are 18 Nigerian owned companies, three foreign state owned companies, 11 international trading houses, five foreign refineries and trading arms of the NNPC group.
The statement said each of the contracts were for 32,000bpd apart from Duke Oil Limited, an oil trading arm of the NNPC which would be for 90,000bpd.
It also disclosed that the contract, which was announced by the Group General Manager of the Crude Oil Marketing Division of the corporation, Mr Mele Kyari, would run for one year, with effect from the January 1, 2017 for consecutive 12 circles of crude oil allocation.
The breakdown of the term contract winners are; Nigerian companies: Oando, Sahara Energy Resources Limited, MRS Oil and Gas, A.A. Rano Nigeria Limited, Bono, Masters Energy, Eterna Oil and Gas, Cavalva Energy, Hyde Energy, Britania-U, North West Petroleum, Optima Energy, AMG Petroenergy, Arkleen Oil and Gas Limited, Shoreline Limited, Emo Oil, Setana Oil and Prudent Energy.
International trading companies: Trafigura, Enoc, BP Trading, Total Trading, UCL Petro Energy, Mocoh Trading, Trevier Petroleum, Heritage Oil, Levene Energy, Glencore as well as Litasco Supply and Trading.
NNPC trading companies: Calson/Hyson and Duke Oil Incorporated.
Refiners: Hindustan Refinery, Varo Energy, Sonara Refinery, Bharat Petroleum and CEPSA.
Government to government: Indian Oil Corporation (India – IOC), Sinopec (China) and Sacoil (South Africa).