NNPC Group Announces Names Of 39 Successful Bidders For 2017/2018 Crude Oil Term Contract



Below is the press release by the Nigerian National Petroleum Corporation (NNPC) culled via its twitter handle:

1. @NNPCgroup is happy to announce the selection of the attached list of successful bidders for the 2017/2018 Crude Oil Term Contract.

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.

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