By Modupe Gbadeyanka
The Nigerian National Petroleum Corporation (NNPC) has announced the list of successful bidders for the 2017/2018 crude oil term contract.
In a statement issued on Tuesday by the agency’s Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu, it was disclosed that 39 bidders made the list.
Mr Ughamadu also noted that out of the successful bidders, 18 are Nigerian companies, while 11 are international traders.
He further said five foreign refineries made the list, three National Oil Companies (NOCs) and two NNPC trading arms.
A total of 224 bids were submitted by companies seeking to purchase and lift Nigerian crude oil grades for the period 2017/2018.
The statement explained that NNPC decided to reveal the names to the general public in furtherance of its drive to remain an open, transparent and accountable organisation.
Group General Manager, Crude Oil Marketing Division (COMD) of the Corporation, Mr Mele Kyari, was quoted in the statement to have made it known that the contract will run for one year effective Sunday, January 1, 2017 for consecutive twelve circles of crude oil allocation.
All the contracts are for 32,000 barrels per day except Duke Oil Ltd, an oil trading arm of the NNPC, which shall be for 90,000 barrels per day.
It could be recalled that during the bid opening in November 2016, Group Managing Director of NNPC, Mr Maikanti Kacalla Baru, had assured the public that the agency will ensure due process, transparency and fairness in the selection process.
“We will ensure transparency and fairness in the process. There is nothing that is hidden just as you have seen today,” Mr Baru stated during the bid opening which was beamed live to the world.
