An association of 15 conglomerates, which consist of reputable and experienced international companies and downstream operators, have been picked by the Nigerian National Petroleum Corporation (NNPC) as partners for the Direct Sale of Crude Oil and Direct Purchase of Petroleum Products (DSDP).
The list which was released on Sunday by the Corporation’s Group General Manager, Group Public Affairs Division, Ndu Ughamadu include: BP Oil International Limited/AYM SHAFA Limited; VITOL SA/Calson-Hyson; Total Oil Trading SA/Total Nigeria Plc; Gunvor Group Limited/AY Maikifi Nigeria Limited; Trafigura Pte Limited./A. A. Rano Nigeria Limited; Compañía Española De Petróleos, S.A.U. (Cepsa)/Oando Plc; and Mocoh Sa/Mocoh Nigeria Limited.
Also listed are Litasco SA/Brittania-U Nigeria Limited/Freepoint Commodities; MRS Oil & Gas Co. Limited; Sahara Energy Resource Limited; Bono Energy Limited./Eterna Plc/Arkleen Oil & Gas Limited./Amazon Energy Limited; Matrix Energy Limited./Petratlantic Energy Limited./UTM Offshore Limited.
The others are: Ughanadu listed Levene Energy Dev. Limited; Mercuria Energy Trading Sa/ Barbedos Oil & Gas Services Limited, Rainoil Limited, Petrogas Energy Trade West Africa Limited; Asian Oil & Gas Pte Limited, Eyrie Energy Limited, Masters Energy Oil & Gas Limited, Casiva Limited and Duke Oil Incorporated, as among the successful bidders.
In all, about 36 firms would be involved in the exercise since the list incorporates conglomerates and their affiliates.
The move, the statement said, is in line with the corporation’s Group Managing Director, Mallam Mele Kyari’s pledge on assumption of duty last month that the NNPC under his leadership would continuously entrench transparency and accountability.
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Under the DSDP arrangement, the 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, Ughamadu said.
He said: “Following the successful completion of the 2019/2020Direct Sale of Crude Oil and Direct Purchase of Petroleum Products (DSDP) tender exercise, 15 consortia made up of reputable and experienced international companies and Nigerian downstream companies were successful as the DSDP partners for the 2019/2020 DSDP contract.
The tender process, he pointed out, comprised the “ technical bid submission, evaluation and shortlisting, commercial bid submission, evaluation and shortlisting, commercial negotiations and contract agreement execution,” adding that in keeping faith with the NNPC’s commitment to transparency, the under listed 15 consortia would be “lifting Nigerian crude oil grades in exchange for delivery of the corresponding petroleum products on value for value basis in line with the executed agreement.”
He said this process was in tandem with the earlier pronouncement of NNPC Group Managing Director, Mele Kyari, that under his leadership, the Corporation, “ will strive to be more credible, competent and accountable institution that manages the oil resources on behalf of the citizens of Nigeria in accordance with its mandate and the core persuasions of President Muhammadu Buhari,” stressing that for NNPC to maintain positive image, “there must be transparency, shared values of integrity and professionalism among its members of staff.”
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