Nigeria: NNPC Awards Crude Oil Lifting Contract to 50 Firms
Chief Iduu Ugonna
The Nigerian National Petroleum Corporation, NNPC, has awarded a two-year crude oil lifting contract to 50 companies.
Of the 50, 18 are foreign companies, while 32 are indigenous oil and gas operators, a development said to have been done in line with the local content policy of the Federal Government.
The list obtained by Petroleum news through DPR showed that the international companies include BB Energy of Lebanon; Cepsa of Spain; Glencore of Switzerland; HPCL of India; Litasco of Russia; Mocoh of Switzerland; Petraco of Switzerland; Petrobras of Brazil; Sacoil of South Africa; SEER Unit of South Africa; SacOil of South Africa; Socar of Azerbaijan; Sonara of Cameroon; Total of France; Trafigura of Switzerland; Vitol of Britain; and Calson-Vitol/NNPC joint venture and ZR Energy.
The indigenous companies include AA Rano; Aipec; AMG; Arkleen; Barbedos; Bono Energy; Casiva; Cretus; Emadeb; Eterna; Gladius Commodities; Hinstock; Leighton; Levene; Masters Energy; Matrix; MRS; North West; Oando; Sahara Group; Ocean Bed (Sahara trading subsidiary); Propetrol; Prudent; Setana; Setraco; Shoreline; Ultimate Gas; Voyage; West African gas; Zitts and Lords; Obat Oil & Gas; and Duke Oil (NNPC subsidiary).
The source said the companies had already started to lift oil from the major oil terminals, including Bonny, Pennington, Qua Iboe and Brass.
Investigation showed that loading Nigerian cargoes have been slow to clear this month.
Traders disclosed that at least half the 60-cargo programme was still available for sale.
But the Organisation of Petroleum Exporting Countries, OPEC disclosed in its May, 2018 market report that the demand for crude oil remains high in the market.