Daily Trust

254 firms bid for contract to lift Nigerian crude

Around 254 companies have indicated interest to purchase and lift Nigerian crude oil grades for the period 2018/2019.

The names of the companies were unveiled at a public opening of the bids submitted by the companies. The event was held at the NNPC Towers in Abuja on Tuesday.
Last year, 224 companies submitted bids, indicating that the number of bidders increased this year by 30.
The successful companies would participate in the lifting of thousands of barrels per day of crude oil on offer by the NNPC on Free on Board (FOB) basis subject to the execution of sales and purchase agreement between NNPC and the companies 
Speaking at the event, Group Managing Director of the NNPC, Dr. Maikanti Baru, said that the public bid opening was in consonance with the transparency and accountability agenda of President Muhammadu Buhari in the oil and gas industry.
“Over the years, we have established processes that have enabled the engagement of the best partners and guaranteed full automation and recovery of the full value of all crude oil lifted,” he said.
Baru said the NNPC has also promoted greater participation of Nigerian enterprises while preserving world class standards.
The event which was broadcast live on a national television network had in attendance representatives of the bidding companies and officials of the Bureau of Public Procurement (BPP) Department of Petroleum Resources (DPR) Nigerian Extractive Industries
Transparency Initiative (NEITI) Nigerian Content Development and Monitoring Board, (NCDMB) and some members of the civil society as observers.