NNPC Awards 2017 Crude Oil Term Contracts to 39 Companies

Posted on by admin

Nigerian National
Petroleum Corporation (NNPC) has awarded its 2017 crude oil term
contracts to 39 companies, the company said on Tuesday.
The contracts covering about 1.31 million barrels per day
(bpd) of crude oil were awarded to 18 Nigerian companies, 11
international trading houses, five foreign refineries, three
national oil companies and two “NNPC Group trading arms,” the
firm said in a statement.
NNPC said the contracts, worth a total of more than $72
million per day at Tuesday’s crude prices of around $55.60 per
barrel, were each for 32,000 barrels per day (bpd), apart from
Duke Oil Ltd, an NNPC Group subsidiary, which was for 90,000
bpd.
The list compared with 27 companies that won contracts of
varying sizes for 2016. OPEC member Nigeria typically produces
just over 2 million bpd of crude oil, although its 2016 output
was hobbled by militant attacks.
China’s Sinopec and India’s Indian Oil Corp were among the
winners, as were international firms including the trading arms
of BP and Total and trading houses Litasco and Glencore.
Absent from this year’s list were the trading arms of oil
majors ExxonMobil, Shell and Eni, trading houses Mercuria and
Taleveras and refiner Saras, all of whom were on the 2016
contract list.

Vitol’s trading arm was also not on the list,
although, Varo Energy, a joint venture between Vitol and private
equity firm Carlyle Group, was.
NNPC head Maikanti Baru said the group had received bids
from 224 companies. He said the decision to announce the winners
reflected NNPC’s commitment to transparency.
“We’ll ensure transparency and fairness in the process,”
Baru said in a statement.

NNPC Boss, Baru

Contract holder     Volume (‘000 bpd)
Refiners
Hindustan Refinery 32
Varo Energy 32
Sonara Refinery 32
Bharat Petroleum 32
Cepsa 32
International Trading Companies
Trafigura 32
ENOC 32
BP Trading 32
Total Trading 32
UCL Petro Energy 32
Mocoh Trading 32
Trevier Petroleum 32
Heritage Oil 32
Levene Energy 32
Glencore 32
Litasco Supply and 32
Trading
Government to Government
Indian Oil Corp. (India – 32
IOC)
Sinopec (China) 32
SacOil (South Africa) 32
Nigerian Companies
Oando 32
Sahara Energy Resouce LTD 32
MRS Oil and Gas 32
A.A. Rano Nigeria Limited 32
Bono 32
Masters Energy 32
Hyde Energy 32
Britania-U 32
North West Petroleum 32
Optima Energy 32
AMG Petroenergy 32
Arkleen Oil & Gas Ltd 32
Shoreline Limited 32
Emo Oil 32
Setana Oil 32
Prudent Energy 32
NNPC Trading Companies
Calson/Hyson 32
Duke Oil Incorporated 90
Total: 39 1.31 million

Reuters

Facebook Comments
About the Author

1 Comment so far. Feel free to join this conversation.

  1. Arues Ideh (Nigeria) January 5, 2017 at 9:07 am - Reply

    Niger Delta region people companies dey among these 39 companies d federal government allocate blocks to so? Na only Hausa’s and Yoruba’s dey own oil blocks contracts since oil was discovered in d Niger Delta region which is a great injustice and oppression, this time around I hope Niger Delta region people companies pass 25 on d list,otherwise na d same evil system president Buhari dey continue which is unacceptable by d Niger Delta region people, they can’t control all d armed forces, federal civil service, top federal senior advisers, b d minister for d federal capital territory since its inception what an evil system?, this should b stopped if Niger Delta region people can get justice and fairness for peace to reign

Leave A Response