NNPC Awards Oil Swap Contracts to Oando & 14 Others
Written by Smooth FM on August 19, 2019
The Nigerian National Petroleum Corporation (NNPC) yesterday released names of shortlisted local and international trading and downstream oil companies for the highly sought-after contracts to exchange crude oil for imported fuel.
NNPC’s crude swap deals, known as Direct Sale-Direct Purchase Agreements (DSDP), were previously referred to as offshore crude oil processing agreements (OPAs) and crude-for-products exchange arrangements.
The corporation said in a statement yesterday by its Group General Manager, Public Affairs, Mr. Ndu Ughamadu, that the 2019/2020 DSDP programme would be executed with utmost transparency and accountability.
A total of 15 groupings, with at least 34 companies in total, were successful.
According to NNPC, the shortlisted companies are:
BP Oil International Limited/AYM Shafa Limited; Vitol SA/Calson-Hyson; TOTSA, Total Oil Trading SA/Total Nigeria Plc; Gunvor International BV/AY Maikifi Oil and Gas Limited; Trafigura PTE Limited/AA Rano Nigeria Limited; and CEPSA SA/Oando Plc.
The other shortlisted firms are Mocoh SA/Mocoh Nigeria Limited; Litasco SA/Brittania-U Nigeria Limited/Freepoint Commodities; MRS Oil and Gas Company Limited; Sahara Energy Resource Limited, Bono Energy Limited/Eterna Plc/ Arkleen Oil and Gas Limited/Amazon Energy Resource; Matrix Energy Limited/Petratlantic Energy Limited/UTM Offshore Limited/Levene Energy Development Limited; Mercuria Energy Trading SA/ Barbedos Oil and Gas Services Limited/Rainoil Limited/Petrogas Energy; Asian Oil and Gas PTE Limited/Eyrie Energy Limited/Masters Energy and Gas Limited/Casiva Limited; and NNPC’s subsidiary trading arm, Duke Oil Company Incorporated.
Under the deals, the NNPC supplies crude oil to selected local and international oil traders and refineries in exchange for petrol and diesel.