– The NNPC reported the effective organizations to lift unrefined oil in Nigeria
– It said the determination depended on straightforwardness and reasonableness
– Companies with considerable interest in Nigeria were focused for determination
The Nigerian National Petroleum Corporation (NNPC) affirmed that 39 organizations have won the raw petroleum term contract for the purchase and lifting of 1.306 million barrels daily of Nigeria’s unrefined petroleum for 2017/2018.
News reports that Wale Tinubu’s Oando, Toye Cole’s Sahara Energy Resources, Sayyu Dantata’s MRS Oil were among the 18 Nigerian organizations that won the agreement.
Additionally, 11 worldwide oil brokers, five remote refiners, three National Oil Companies, (NOCs) and two NNPC exchanging arms likewise got the deal for the lifting which would keep running for a year.
Reliable source from NNPC said every one of the agreements are for 32,000 barrels for each day aside from Duke Oil Ltd which is an oil exchanging arm of the NNPC, which might be for 90,000 barrels for every day.
The other fruitful organizations are Uche Ogah’s Masters Energy, Alhaji Auwalu Rano’s A.A. Rano Nigeria Ltd, Oladimeji Edwards’ Hyde Energy, Uju Ifejika’s Britania-U. North West Petroleum and Optima Energy, AMG Petroenergy, Arkleen Oil and Gas Ltd, Shoreline Ltd, Emo Oil, Setana Oil and Prudent Energy. The International oil brokers are Trafigura, ENOC, BP Trading, Total Trading, UCL Petro Energy, Mocoh Trading, Trevier Petroleum, Heritage Oil, Levene Energy, Glencore and Litasco Supply and Trading Company.
The India Oil Company, Sinopec of China and Saccoil of South Africa made up the administration to-government classification while the two NNPC auxiliaries are Duke Oil and Carlson Hyson.
224 offers were submitted for the agreements for oil lifting and Mr. Maikanti Baru who is the group overseeing executive of the NNPC had guaranteed reasonableness and transparency in the choice procedure.
Another source makes the following comment: “There have been speculations that we are struggling for market. That is not true. Nigerian crude has continued to earn premiums and they are hot cake for refiners. Because of the light nature of the crude, it induces very high yields on the valuable products that you produced from crude oil. Nigerian crude continues to maintain market.”