In order to continue its exchange of crude oil for refined fuel, the Nigerian National Petroleum Corporation (NNPC) has contracted about 34 companies to carry out the deal.
According to some oil industry sources, the 34 firms are under a total of 15 groupings, which received the award letters issued by the country’s state oil firm according to some oil industry sources, the 34 firms are under a total of 15 groupings, which received the award letters issued by the country’s state oil firm.
The 15 groupings said to have won the contract are: BP/Aym Shafa, Vitol/Varo, Trafigura/AA Rano, MRS; Oando/Cepsa, Bono/Akleen/Amazon/Eterna, Eyrie/Masters/Cassiva/Asean Group, Mercuria/Barbedos/Petrogas/Rainoil, UTM/Levene/Matrix/Petra Atlantic, TOTSA, Duke Oil, Sahara, Gunvor/Maikifi, Litasco /Brittania-U, and Mocoh/Mocoh Nigeria.
With the new development, the firms which are now shouldered with the responsibility of carrying out the NNPC crude-for-oil exchange deal have grown by 120%. The numbers grew from 10 pairings to a total of 22 companies.
Oil companies, however, jostled to be on the list, because it gives them opportunity to have access to the country’s crude oil cargoes.
Samson Oyedeyi
