Tonye Cole, Dantata, Tinubu, others win NNPC’s crude oil term contract

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Tonye Cole, Dantata, Tinubu, others win NNPC’s crude oil term contract

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The Nigerian National Petroleum Corporation, NNPC, yesterday, announced that Wale Tinubu’s Oando, Toye Cole’s Sahara Energy Resources, Sayyu Dantata’s MRS Oil and 36 other companies are winners of the crude oil term contract, for the purchase and lifting of 1.306 million barrels per day of Nigeria’s crude oil for 2017/2018.
Wale Tinubu

Wale Tinubu

NNPC disclosed that the 39 successful bidders comprised 18 Nigerian companies, 11 international oil traders, five foreign refiners, three National Oil Companies, (NOCs) and two NNPC trading arms.All contracts are for 32,000 barrels per day except Duke Oil Ltd, an oil trading arm of the NNPC, which shall be for 90,000 barrels per day.NNPC Group General Manager, Crude Oil Marketing Division, COMD, in a statement, Mr. Mele Kyari, in a statement said that the contract will run for one year effective January 1, 2017 for consecutive 12 circles of crude oil allocation.Other Nigerian companies are: Sayyu Dantata’s MRS Oil and Gas, Uche Ogah’s Masters Energy, Alhaji Auwalu Rano’s A.A. Rano Nigeria Ltd, Oladimeji Edwards’ Hyde Energy, and Uju Ifejika’s Britania-U.The list also include North West Petroleum and Optima Energy, AMG Petroenergy, Arkleen Oil & Gas Ltd, Shoreline Ltd, Emo Oil, Setana Oil and Prudent Energy.The International oil traders are: Trafigura, ENOC, BP Trading, Total Trading, UCL Petro Energy, Mocoh Trading, Trevier Petroleum, Heritage Oil, Levene Energy, Glencore and Litasco Supply and Trading Company.In the government-to-government category, the companies are India Oil Company, Sinopec of China and Saccoil of South Africa, while the two NNPC subsidiaries are Duke Oil and Carlson Hyson.A total of 224 bids were submitted by companies seeking to purchase and lift Nigerian crude oil grades for the period 2017/2018.At the bid opening in November 2016, Group Managing Director of NNPC, Mr. Maikanti Baru, had assured the public that NNPC would ensure due process, transparency and fairness in the selection process. 

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