A total of fifteen consortium have been announced as winners of its 2019/2020 contracts for the exchange of crude oil for imported petroleum products by the Nigeria National Petroleum Corporation (NNPC).
According to the Group General Manager, Group Public Affairs Division of NNPC, Mr. Ndu Ughamadu, in a statement said the announcement is in line with avowed commitment to transparency and accountability by the new Group Managing Director, Mallam Mele Kyari
A total of 15 groupings with 36 companies which will participate in the arrangement includes: BP OIL INTERNATIONAL LTD./AYM SHAFA LTD; VITOL SA/CALSON-HYSON; TOTSA TOTAL OIL TRADING SA/TOTAL NIG. PLC; GUNVOR INTERNATIONAL B.V./AY MAIKIFI OIL & GAS CO. LTD; TRAFIGURA PTE LTD./A. A. RANO NIG. LTD; CEPSA S.A.U./OANDO PLC; MOCOH SA/MOCOH NIG. LTD.
Others are: LITASCO SA/BRITTANIA-U NIG. LTD./FREEPOINT COMMODITIES; MRS OIL & GAS COMPANY LTD; SAHARA ENERGY RESOURCE LTD; BONO ENERGY LTD./ETERNA PLC/ARKLEEN OIL & GAS LTD./AMAZON ENERGY;; MATRIX ENERGY LTD./PETRATLANTIC ENERGY LTD./UTM OFFSHORE LTD./LEVENE ENERGY DEVELOPMENT LTD.
Under the DSDP scheme, companies, including international trading houses and indigenous companies, are allocated crude supplies in exchange for the delivery of an equal value of petrol and other refined products to the state run oil corporation.
The contract is for one year effective 1st October, 2019 to 30th September, 2020.
The release stated that the tender process comprised technical and commercial bid submission respectively, evaluation and shortlisting, then commercial negotiations with prequalified companies and engagement of the successful consortia/companies by NNPC.
“Under the DSDP arrangement, the under listed fifteen (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 8 July, 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.