Nigeria: NNPC seeks buyers for crude oil

*Crude oil tanker vessel.

*Crude oil tanker vessel.

15 October 2016, Abuja — The Nigerian National Petroleum Corporation, NNPC, has invited local and foreign firms to bid for the contract for the sale and purchase of Nigerian crude oil grades in 2017.

The Corporation in a tender notice issued yesterday said it will give special consideration to companies that own refineries that can process Nigerian crude, indigenous oil and gas companies as well as countries with high energy consumption.

The duration of the term contract will be for one year (2017), the Corporation said in the tender seen by our reporter.

To sell Nigeria’s share of oil produced, NNPC’s Crude Oil Marketing Division (COMD) awards yearly “term contracts” to a list of companies that are then eligible to buy crude throughout the year. Nigeria’s crude grades, around 26 of them, are sold free on board basis.

*Daniel Adugbo – Daily Trust

About the Author