The Nigerian National Petroleum Corporation, NNPC, yesterday, stated that 278 companies were vying to secure the contract for the trading of about 950,000 barrels per day of Nigeria’s crude oil from January 2016.Speaking at the bid opening ceremony for the sale and purchase of crude oil grades in Abuja, Group Managing Director of NNPC, Mr. Ibe Kachikwu, said the Federal Government was committed to ensuring transparency in the trading of Nigeria’s crude oil.
He said: “The essence is to ensure that nobody needs to call me personally as Ibe Kachikwu for him to get crude allocation. So, you can imagine the burden it takes off my shoulders. It means a good amount of my time will now go into other relevant areas of operations, where the country needs me most.”
He assured the bidders that consideration would only be given to companies that are competent, credible and with the right capacity to deliver Nigeria’s crude.
Bidding coys
Some of the companies that submitted bids include Forte Oil, MRS, Statoil, Eni Trading and Shipping Limited, Sacoil Energy Equity Resources, RainOil Limited, Repsol Trading S.A., Indian Oil Corporation Limited, Mercuria Energy Trading SA, Gunvor and BP Oil International.
Others are Obat Oil, Energy Network IBG, Groundwells Energy International, Universal Import and Export International, Global Oil Incorporated, Waltersmith, Hindustan Petroleum Limited, Societe Africaine, Nigermed Petroleum SA, Eterna Plc, Niger Delta Petroleum Resources Limited and Strategic Fuel Fund/South African Government, among others.
The contract for the engagement of qualified and reputable companies for the sale and purchase of Nigerian crude oil grades is conducted in consonance and in pursuance of the provisions of the Public Procurement Act 2007 and the Bureau for Public Procurement, BPP, guidelines.
Prerequisites for 26 grades
As part of the pre-qualification requirements, interested companies are expected to demonstrate the possession of minimum annual turnover of USD 750 million and net worth of at least USD 300 million; ability to establish an irrevocable Letter of Credit for the payment of any allocated crude oil subject to the contract terms as well as the ability to pay an initial deposit of USD 2.5 million representing the first lifting deposit upon signing of the contract agreement, among other requirements.
The 26 grade of crude on offer include Bonny Light, Forcados Blend, EA Blend, Bonga, Qua Iboe Light, Yoho Blend, Erha and Escravos Light.
Others are Pennington Light, Agbami, Brass Blend, Abo, Oyo, Okono Blend, Amenam Blend, Akpo Condensate and Usan. The rest are Atam Blend, Okwori, Okoro, Ima, Ukpokiti, Obe, Okwuibome, Ebok and Asaratoru.
No comments:
Post a Comment