NNPC has finalised new crude-for-fuel swaps for next one year. Here’s the list of the 15 consortia that won the coveted contract

Thursday, 13 May 2021 05:44

NNPC has finalised new crude-for-fuel swaps for next one year. Here’s the list of the 15 consortia that won the coveted contract

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Nigeria National Petroleum Corporation (NNPC) has picked 15 consortia for its new crude-for-fuel swap contracts for one year starting in August, sources with direct knowledge of the matter said.

The list includes major Swiss trading firms Trafigura, Vitol and Mercuria, oil major Total as well as large Nigerian traders Sahara Energy, Oando and MRS Oil.

The contracts, known as direct sale, direct purchase (DSDP) are coveted since they are used to supply nearly all of Nigeria’s gasoline needs as well as cover some of its diesel and jet fuel consumption.

NNPC did not have an immediate comment.

The companies were invited on Friday to submit commercial bids, which were due on Tuesday. Those involved in the process said the list of winners was unlikely to change substantially.

The new DSDPs will replace those from 2019 which were extended until mid-2021.

If a foreign oil company wins then it is typically paired with at least one local firm. Here is the final list:

CONSORTIA

Totsa/Total Nigeria

Oando/Cepsa

Maikifi/Britannia-U/Emadeb/Hyde

Trafigura/AA Rano

Litasco/PV

Oil/Overbrook/Northwest

MRS Oil

Sahara Energy

Bono/Century/Amazon/Cordero