2020 The Nigerian National Petroleum Corporation (NNPC) has picked 26 foreign and local companies as well as 12 countries to lift the country’s crude oil for the next two years. LAGOS, Feb 22 (Reuters) - Nigerian state oil company NNPC has extended until June its contracts with private companies to swap crude oil for fuels, a … The current Nigerian crude oil term contracts (2018-20) involve the export of around 1 million b/d of crude and condensate, out of the 2.2 million b/d Nigeria has the capacity to produce. The Nigerian National Petroleum Corporation (NNPC) has picked 26 foreign and local companies as well as 12 countries to lift the country’s crude oil for the next two years. Nigeria issues tender for coveted crude term contracts | S ... Contract Fifty indigenous and foreign companies have been awarded contracts to lift Nigeria’s crude for the 2018/2019 crude oil term. Ike Amos. NNPC Oil major Total, along with international oil trading companies Trafigura, Vitol and Glencore, Azerbaijan’s Socar, India’s International Oil Corporation and Russian Lukoil’s trading arm Litasco are some of the companies included in the 2018-20 NNPC term contract list, according to a copy of the list seen by S&P Global Platts. The current 2020 crude term contracts are held by more than 60 recipients, making it the largest list Nigeria has ever allocated. 36 companies win NNPC contracts to lift crude oil for 2019 ... Payments are effected to the Federation Account by the NNPC after removing crude and product losses, pipeline repairs and management cost incurred. The Nigerian National Petroleum Corporation (NNPC) says 15 companies have emerged winners of the Direct Sales and Direct Purchase (DSDP) of Crude oil … (AFRICAN EXAMINER) – In line with its avowed commitment to transparency and accountability in all its activities as committed by the new Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, the National Oil Company has announced the winners of its 2019/2020 Direct Sale of Crude Oil and Direct Purchase of … By Reuters Staff. The current Nigerian crude oil term contracts (2018-20) involve the export of around 1 million b/d of crude and condensate, out of the 2.2 million b/d Nigeria has the capacity to … Crude Oil Pricing Optionality and Contracts for Difference. The Nigerian National Petroleum Corporation (NNPC) on Sunday released the list of 15 winners of the crude oil lifting contracts 2019/2020 under the Direct Sale of Crude Oil and Direct Purchase of Petroleum Products (DSDP) arrangement. 2019 2020 DIRECT SALE OF CRUDE OIL AND DIRECT … Nigeria: It's Official - 15 Companies Win Contracts to ... NNPC NNPC Awards Crude Export Contracts to 50 Dealers An International established and globally recognized large volume Crude Oil trader. Complete CONTRACT For Sale And Purchase Of Bulk Bonny Crude Oil Supplied By NNPC And Consigned To Seller And online with US Legal Forms. #NNPC Oil & Gas Forum (Week August 9th 2020 – August 16th 2020) A WEEK OF GAS AND MORE GAS . The current Nigerian crude oil term contracts (2018-20) involve the export of around 1 million b/d of crude and condensate, out of the 2.2 million b/d Nigeria has the capacity to produce. The Nigerian National Petroleum Corporation (NNPC) on Thursday dismissed as unfounded and total falsehood, a … NNPC Oil GABON. INTRODUCTION: Nigerian National Petroleum Corporation (NNPC) is empowered pursuant Mr Kyari said successful bidders would join in lifting over 700,000 barrels per day of crude oil by NNPC on Free on Board (FOB) basis. Good journalism costs a lot of money. The duration of the Term Contract shall be for period of One year (12 calendar months). Author oilpriceng Posted on May 28, 2020 May 28, 2020 Categories News Leave a comment on Lockdown: IPMAN commends NNPC for stabilizing oil industry amidst Corona pandemic 28 … The NNPC said Kachikwu made an input into the shortlisting of 40 off-takers for the Crude Term Contracts by recommending seven companies, which were engaged. The NNPC Case: Agenda. Crude Oil Trading. S & P Global reported that these crudes... | December 1, 2021 The Nigerian National Petroleum Corporation (NNPC) says 15 companies have emerged winners of the Direct Sales and Direct Purchase (DSDP) of crude oil contract for 2019/2020. Generate data on Crude Oil activities in the country. Okechukwu Nnodim, Abuja. The Nigerian National Petroleum Corporation (NNPC) has issued the 2018/2020 crude export contracts to 50 local and international oil traders, including Vitol, Trafigura and Glencore. No fewer than 339 companies are bidding for the 2020/21 sales and purchase of the Nigerian crude oil grades. The Nigerian National Petroleum Corporation (NNPC) says it recorded a total crude oil and gas export sales of $219.75m in May 2021, representing 180.29% increase on sales from the previous month of April 2021. October 16, 2020 12:15 PM. The duration of the term contract for the purchase shall be for 12 calendar months (1 year) Requirements for the purchase of crude oil pursuant to the NNPC Act Many are local Nigerian companies that are new to the world of international oil trading. The NNPC plans to launch a new crude oil licensing round in mid–2020, although the licensing round will likely be postponed until after the PIB legislation issue is resolved later this year. The group managing director, Mele Kyari, […] The guidelines said the crude will continue to be sold on a FOB basis, "subject to the execution of a sales and purchase agreement with selected buyers." These include crude oil and gas royalties, concession rents, bonuses, production sharing, domestic crude oil supply obligations and the survival of contract stabilization clauses. The publication of the list winners is coming shortly after the new Group Managing Director of the corporation, Mele […] The Nigerian National Petroleum Corporation has invited local and international companies to submit bids to lift Nigerian crude and condensates for 2021. Abuja — The Nigerian National Petroleum Corporation (NNPC) Sunday, announced that 15 consortia, made up of 35 foreign and indigenous companies, have emerged winners of its Direct-Sale-Direct-Purchase, DSDP, arrangement for 2019/2020. The 50 companies were among a total of 254 that participated in the bids held last January for the sale and purchase of the Nigerian National Petroleum Corporation (NNPC) equity crude under the 2018/2019 crude oil term contracts. addendum to bid registration / submission: expression of interest (eoi) for the provision of operations and maintenance (o&m) services for three (3) nigerian national petroleum corporation (nnpc) refineries: port-harcourt refining company (phrc), warri refining and petrochemical company (wrpc), and kaduna refining and petrochemical … Sahara Energy, Oando Plc and 37 other companies are among the successful bidders for the 2017/2018 crude oil term contracts of … “Gallon” A unit of volume equivalent to 231 cubic inches or 0.3785 cubic meters, all measured at 60 degrees F “Party” shall mean either Seller or Buyer. During the week, the Honourable Minister of State for Petroleum Resources, Chief Timipre Sylva, accompanied by GMD Mele Kyari and other industry stakeholders, undertook two crucial Gas sector related endeavours, with potentials for immeasurable value addition to the Nigerian Oil & … 1. The NNPC also said it has obtained the permission of President Muhammadu Buhari to kick-start the tendering process for the 2015/2016 Crude Oil Term Contract for the evacuation of Nigeria’s crude oil equity from the various crude and condensate production arrangements. Oil price royalty: a new royalty is payable on the basis of the oil price with an additional rate payable of 2.5% for an oil price of US$ 20 – 60 per barrel; 4% for an oil price of US$ 61 – 100 per barrel; 8% for an oil price of US$ 101 – 150 per barrel; and 10% above US$ 150. Easily fill out PDF blank, edit, and sign them. The corporation disclosed this in a statement issued by its spokesman, Mr Ndu Ughamadu, in Abuja, yesterday. NNPC Selects Vitol, Trafigura, Sahara, Oando, 46 Others for Crude Term Contracts The Nigerian National Petroleum Corporation (NNPC) has issued the 2018/2020 crude export contracts to 50 local and international oil traders, including Vitol, Trafigura and Glencore. This comes as the NNPC on Sunday published the names of 15 firms that have been awarded contracts to lift Nigeria’s crude for the 2019/2020 crude oil term from October 1, 2019 to September 30, 2020. Such … Risk of corruption. By Stan Edom. According to a statement by the NNPC spokesperson, Ndu Ughamadu, the list of the 36 successful companies in 15 operational groups include: BP OIL INTERNATIONAL LTD./AYM SHAFA LTD. VITOL SA/CALSON-HYSON. The Group General Manager, Crude Oil Marketing Division, Mele Kyari, listed some of the conditions potential off-takers were expected to meet under the 2018/2019 crude term contract These include, possessing a minimum annual turnover of $500 million for 2016 and net worth of $250 million for 2016, apart from having the 2015 & 2016 audited accounts. An established globally recognised large volume of crude oil trader. Nigeria is almost entirely reliant on imported fuel because of years of neglect at its own refineries. Collaborate with Nigeria National Petroleum Corporation (NNPC) and its Joint Venture Contract (JVC) partners on the cost of Crude Oil production. Authors: News Agency Of Nigeria. NNPC Tender process. The Nigerian National Petroleum Corporation (NNPC) has picked 26 foreign and local companies as well as 12 countries to lift the country’s crude oil for the next two years. Details about the awarded term contract are not publicly available, but some informed sources indicate that up to a hundred different companies were involved in 2020 awards. He said that the announcement was in line with the corporation’s commitment […] August 20, 2020. The Nigerian National Petroleum Corporation (NNPC) has issued the 2018/2020 crude export contracts to 50 local and international oil traders, … The Nigerian National Petroleum Corporation (NNPC) has picked 26 foreign and local companies as well as 12 countries to lift the country’s crude oil for the next two years. By. The Group Managing Director, NNPC, Mele Kyari, disclosed this at the 2020/2021 Crude oil tender prequalification bid opening ceremony in Abuja. Sale of state owned commodity by SOE. Also, unlike the 2017/2018 contracts where all the contracts were for 32,000 barrels per day (bpd) except for Duke Oil Limited, the oil trading arm of NNPC which got a term contract for 90,000bpd, the crude allocations for the 2018/2020 contracts are for 30,000bpd. 9. Buying crude oil from Nigeria can be relatively straight forward if the crude oil buyer can buy crude oil from a reliable or genuine crude oil seller (mostly a company that has the ability to lift crude oil from the NNPC) or a crude oil broker (a company who brokers on behalf of a company with the ability to lift crude oil from the NNPC) from the OFF-OPEC market. Group General Manager, Crude Oil Marketing Division. Paucity of funds responsible for Nigeria’s oil production challenges – Kyari. Fifty indigenous and foreign companies have been awarded contracts to lift Nigeria's crude for the 2018/2019 crude oil term. 339 companies bid for 2020/21 crude oil sales contract – NNPC boss. The remaining crude oil lifted for export was valued at $24.3 million at an average price of $48.92/barrel, with the total value of crude oil lifted on the account of NNPC in December 2020 being about $407.1 million. An Indigenous Nigerian company engaged in Nigerian Oil and Gas downstream business activities. The NNPC said Kachikwu made an input into the shortlisting of 40 off-takers for the Crude Term Contracts by recommending seven companies, which were engaged. The Nigerian National Petroleum Corporation (NNPC) has released the list of 15 winners of the crude oil lifting contracts 2019/2020 under the Direct Sale of Crude Oil and Direct Purchase of Petroleum Products (DSDP) arrangement.. The current Nigerian crude oil term contracts (2018-20) involve the export of around 1 million b/d of crude and condensate, out of the 2.2 million b/d Nigeria has the capacity to produce. NNPC Towers Abuja. Page 4 of 21 Seller: Contract Code: Page 4 of 21 Buyer: “Metric Ton” shall mean unit of weight equal to one thousand (1000) Kilograms and one (1) metric Ton of Crude Oil shall be equal to 7.4 Barrels of BLCO. NIGERIAN NATIONAL PETROLEUM CORPORATION NNPC TOWERS, HERBERT MACAULAY WAY, P.M.B. An indigenous Nigerian company engaged in the Nigerian oil and gas downstream business activities. A United Kingdom-based public policy assessment organisation, the Oxford Policy Management (OPM), has interrogated the increase in the number of firms engaged by the Nigerian National Petroleum Corporation (NNPC) to participate in its crude oil lifting contracts and the two-year duration of the contracts from 2018 and 2020, despite the country’s unchanged levels of crude oil … The current Nigerian crude oil term contracts (2018-20) involve the export of around 1 million barrels a day, b/d of crude and condensate, out of the 2.2 million b/d Nigeria has the capacity to produce. He said this will include direct sales to refineries and longer term crude sales contracts beyond the current one year. No fewer than 339 companies are bidding for the 2020/21 sales and purchase of the Nigerian crude oil grades. The publication of the list winners is coming shortly after the new Group Managing Director of the corporation, Mele Kyari, promised to make the … The current Nigerian crude oil term contracts (2018-20) involve the export of around 1 million b/d of crude and condensate, out of the 2.2 million b/d Nigeria has the capacity to produce. It has chosen 26 foreign and local companies as well as 12 countries to lift the country’s crude oil for the next two years. He said that the Corporation has received bids from over 339 companies for the 2020/21 sales … The oil giant faulted the Minister’s claim that he was not consulted on $10billion Crude Term Contracts. The NNPC said Kachikwu made an input into the shortlisting of 40 off-takers for the Crude Term Contracts by recommending seven companies, which were engaged. Checks showed that as part of the efforts to encourage local participation in the lifting contracts, the … Announcing the results yesterday, the Group General Manager, Crude Oil Marketing Division (COMD) of the Corporation, Mr. Mele Kyari said the contract will run for one year effective 1st January… were 396 companies with NNPC term contracts which exceeded the oil available for sale. Gabrich Global is an OFF-OPEC Provisional Lifting Right (PLR) holder with The Nigerian National Petroleum Corporation (“NNPC”), who vested us with Authority To Sell (ATS). No fewer than 339 companies are bidding for the 2020/21 sales and purchase of the Nigerian crude oil grades. The NNPC crude oil tender bid was on Monday made public in line with the Nigeria National Petroleum Company, NNPC’s, commitment to President Muhammadu Buhari’s drive for transparency and accountability in the oil and gas sector. The Nigerian National Petroleum Corporation (NNPC) on Sunday released the list of 15 winners of the crude oil lifting contracts 2019/2020 under the Direct Sale of …
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