Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Nigeria: 2017 crude lifting contracts to favour more local firms

    Nigeria: 2017 crude lifting contracts to favour more local firms

    November 16, 2016
    Share
    Facebook Twitter LinkedIn WhatsApp

    NNPC Towers2Chuks Isiwu & Oscarline Onwuemenyi 16 November 2016, Sweetcrude, Lagos –  The 2017 term contracts for the lifting of Nigeria’s crude oil could see more indigenous and domestic Nigerian companies being involved, SweetcrudeReports has gathered.

    The Nigerian National Petroleum Corporation, NNPC, announced recently that it would be releasing the names of companies qualified for the lifting of the crude by mid-December.

    The lifting deal involves the export of about 1.17 million barrels per day, mb/d, of Nigeria’s crude, out of the country’s 2.2 mb/d total production.

    Industry sources revealed that more Nigerian companies could feature in the list in the light of renewed violence in the oil-producing Niger Delta region and the need to accommodate certain interests that would help with the resolution of the crisis in the Niger Delta, which has considerably cut Nigeria’s crude oil output and revenue from the source.

    The need to accommodate more Nigerian companies is also in line with government’s Local Content Policy, which favours the involvement of increased number of indigenous companies in all aspects of business in the oil and gas sector.

    As part of efforts to end militancy in the Niger Delta, leaders from the region met two weeks ago with President Muhammadu Buhari  with a 16-point demand to the government, one of which is the allocation of oil blocks and contracts for crude oil lifting to indigenous companies from the region.

    The Presidency is still looking into the demands and sources said allocation of contracts to more local companies could help douse the tension in the region.

    NNPC’s lifting contracts for 2016 involved 21 companies, comprising international refiners, trading companies, Nigerian downstream firms and NNPC trading companies.

    The list featured eight Nigerian downstream players – Emo Oil and Petroleum, Northwest Petroleum and Gas, Forte Oil Plc, Oando Plc, Sahara Energy Resources A.A. Rano Nigeria Limited, Eterna Oil and MRS Oil and Gas – and NNPC’s two trading partners – Carlson/Hyson and Duke Oil Incorporated.

    The NNPC would be announcing the names of companies qualified for the 2017 contracts by mid-December, according to Group General Manager, Crude Oil Marketing Division,  Mele Kyari.

    Revealing this in a statement, Kyari said: “The crude tender will close on November 24 and we expect to have new contracts in place before the end of the second week of December.”

    Earlier last month, NNPC had issued guidelines for companies wishing to participate in the lifting of Nigerian crude for 2017.

    The offer document stipulated that bids for these contracts, valid for a year from January 1, be submitted by 12:00 Nigerian time (1100 GMT) November 24.

    Besides local firms, other companies covered in the 2016 lifting contracts include multinationals ExxonMobil, Shell, Eni and Total. Other companies are Indian Oil Corporation, Emirates National Oil Company, Saras SPA, Marcuria, Cepsa, Trafigura and Vitol SA.

    Related News

    Despite NPA’s intervention, export cargoes still stuck at EPTs for days

    Crude oil rebound reflects optimism over the U.S.-China dialogue

    Stakeholders hail PINL’s achievements in protecting TNP

    E-book
    Resilience Exhibition

    Latest News

    Nigeria advocates for global financial reform at 2025 UN Meetings

    May 9, 2025

    China pushes ahead in battery technology race

    May 9, 2025

    Gold rose amid geopolitical risks, investors await trade developments

    May 9, 2025

    Despite NPA’s intervention, export cargoes still stuck at EPTs for days

    May 9, 2025

    Nigeria recommits to fostering enabling environment for inclusive prosperity

    May 8, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.