Below is the press release by the Nigerian National Petroleum Corporation (NNPC) culled via its twitter handle:
2. The contract will run for one year effective 1st January 2017 for consecutive twelve circles of crude oil allocation.
3. The list involves 18 Nigerian Coys, 11 International Traders, 5 foreign refineries, 3 NOCs and 2 @NNPCGroup trading arms.
4. All the contracts are for 32,000 bpd except Duke Oil Ltd, a subsidiary of the @NNPCGroup, which shall be for 90,000 bpd.
5. During d bid opening in Nov 2016, GMD, Dr. M. K. Baru had assured d public of transparency & fairness in d selection process.
6.”We’ll ensure transparency & fairness in d process. There’s nothing hidden just as you’ve seen today”,Dr. Baru told the bidders.
7. A total of 224 bids were submitted by companies seeking to purchase & lift Nigerian crude oil grades for d period 2017/2018.