The Nigerian National Petroleum Corporation (NNPC) has announced winners of its 2019/2020 Direct Sale of Crude Oil and Direct Purchase of Petroleum Products (DSDP) arrangement and from a statement issued by the state-owned oil agency, 15 firms made the cut after a rigorous and transparent exercise.
From the list announced by NNPC, four companies listed on the Nigerian Stock Exchange (NSE) were selected for the crude-for-oil contracts and they are Total Nigeria, Oando, Eterna and MRS Oil.
According to the statement signed in Abuja yesterday by the corporation’s Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu, the list was made public in line with the avowed commitment to transparency and accountability in all its activities as committed by the new Group Managing Director of NNPC, Mr Mele Kyari.ALSO READ European Shares Slip Amidst Brexit Worries
The release stated that the tender process comprised technical and commercial bid submission respectively, evaluation and shortlisting, then commercial negotiations with pre-qualified companies and engagement of the successful consortia/companies by NNPC.
“Under the DSDP arrangement, the under listed 15 consortia/companies shall over the contract period, offtake crude oil and in return, deliver corresponding petroleum products of equivalent value to NNPC, subject to the terms of the agreement”, the release declared.
In his takeover note on July 8, 2019, the newly appointed NNPC GMD, Mallam Kyari, had promised to open NNPC books to public scrutiny, saying as a publicly owned company Nigerians deserve to know about the operations of the corporation.
He reiterated his management’s team commitment to transparency and accountability when he had a maiden Town Hall engagement with the staff of the corporation where he launched the team’s policy direction tagged: Transparency, Accountability, Performance and Excellence (TAPE).
It was disclosed that the contract is for one year effective October 1, 2019 to September 30, 2020.
It listed the successful companies as follows:
1. BP OIL INTERNATIONAL LTD./AYM SHAFA LTD.
2. VITOL SA/CALSON-HYSON
3. TOTSA TOTAL OIL TRADING SA/TOTAL NIG. PLC
4. GUNVOR INTERNATIONAL B.V./AY MAIKIFI OIL & GAS CO. LTD.
5. TRAFIGURA PTE LTD./A. A. RANO NIG. LTD
6. CEPSA S.A.U./OANDO PLC
7. MOCOH SA/MOCOH NIG. LTD.
8. LITASCO SA/BRITTANIA-U NIG. LTD./FREEPOINT COMMODITIES
9. MRS OIL & GAS COMPANY LTD
10. SAHARA ENERGY RESOURCE LTD
11. BONO ENERGY LTD./ETERNA PLC/ARKLEEN OIL & GAS LTD./AMAZON ENERGY
12. MATRIX ENERGY LTD./PETRATLANTIC ENERGY LTD./UTM OFFSHORE LTD./LEVENE ENERGY DEVELOPMENT LTD
13. MERCURIA ENERGY TRADING SA/ BARBEDOS OIL & GAS SERVICES LTD./RAINOIL LTD./PETROGAS ENERGY
14. ASIAN OIL & GAS PTE LTD./ EYRIE ENERGY LTD./ MASTERS ENERGY OIL & GAS LTD/CASIVA LTD
15. DUKE OIL COMPANY INCORPORATED.