The Nigerian National Petroleum Corporation (NNPC) has issued award letters for contracts to exchange crude oil for imported fuel.
A total of 15 groupings, with at least 34 companies in all, received award letters.
On May 2, 2019, NNPC announced that 132 firms had submitted bids for the 2019 Direct Sale of crude oil and Direct Purchase of petroleum products scheme (DSDP).
The corporation said it had saved $2.2 billion through the scheme since its inception.
The winning groups include: 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, Mocoh/Mocoh Nigeria.
The NNPC stated it would supply 10% of its crude oil export to India to help resolve a growing energy crisis in the country.
The Group Managing Director of the NNPC, Alhaji Mele Kyari, said Nigeria would continue to support India’s energy security challenge in whatever way it could.
Also, the recent Memorandum of Understanding in energy security between Nigeria and India would, further, strengthen the bilateral relations between the two countries.
Hence, NNPC would ensure the current volume of crude oil supply from Nigeria to India was secured for the collective interest of both countries.
The NNPC GMD said there were lots of untapped investment opportunities in the country’s Liquefied Petroleum Gas (LPG) sector.
He expressed NNPC’s willingness to aggressively develop and improve LPG infrastructure and consumption in the
country.
The Indian High Commissioner, Mr. Abhay Thakur, thanked the NNPC’s management for the recent renewal of the crude oil lifting term contracts for three Indian companies that participated in the bid exercise.
Mr. Abhay demanded increased allocation in the crude oil supply from Nigeria, given the increasing energy needs of India.
He disclosed that India was ready to provide credit lines and expertise to help the NNPC revamp its massive oil infrastructure across the country.
“India is prepared to offer Nigeria, particularly the NNPC, a credit line mechanism to help her in the areas of refinery maintenance, construction, security, surveillance and anything possible.
“Our expertise in Information Technology (IT) is available as well. We are ready to cooperate with NNPC to boost our bilateral relations,” Mr. Abhay said.