Oando, MRS, others clinch NNPC’s crude-for-fuel swap deals

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.

A statement, on Sunday in Abuja, by the NNPC spokesman, Ndu Ughamadu, said following the completion of the 2019/2020 DSDP tender exercise, 15 consortia/companies made up of reputable and experienced international companies and Nigerian downstream companies emerged successful to undertake the 2019/2020 DSDP arrangement.

The contract is for one year effective 1st October, 2019 to 30th September, 2020, he said.

Daily Trust reports that under the DSDP, the NNPC sells crude oil directly to offshore refiners and receive products from same in return.

The corporation is targeting about 14bn litres of products supplies from the 2019/2020 DSDP.

NNPC listed the successful companies as follows: 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 and Trafigura Pte Ltd./A. A. Rano Nig. Ltd.

Others are; CEPSA S.A.U./Oando Plc, Mocoh SA/Mocoh Nig. Ltd, Litasco Sa/Brittania-U Nig. Ltd./Freepoint Commodities, Mrs Oil & Gas Company Ltd And Sahara Energy Resource Ltd.

Also included on the list are; Bono Energy Ltd./Eterna Plc/Arkleen Oil & Gas Ltd./Amazon Energy, Matrix Energy Ltd./Petratlantic Energy Ltd./UTM Offshore Ltd./Levene Energy Development Ltd, Mercuria Energy Trading SA/ Barbedos Oil & Gas Services Ltd./Rainoil Ltd./Petrogas Energy, Asian Oil & Gas Pte Ltd./ Eyrie Energy Ltd./ Masters Energy Oil & Gas Ltd/Casiva Ltd and Duke Oil Company Incorporated.

The statement stated that the tender process comprised technical and commercial bid submission respectively, evaluation and short-listing, 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, off-take crude oil and in return, deliver corresponding petroleum products of equivalent value to NNPC, subject to the terms of the agreement”, the statement read.

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