Tinubu, Others Land HUGE Crude Oil Contract

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Tinubu

The Nigerian National Petroleum Corporation (NNPC) on Wednesday announced Wale Tinubu’s Oando, Toye Cole’s Sahara Energy Resources, Sayyu Dantata’s MRS Oil, among others, winners of the crude oil term contract, for the purchase and lifting of 1.306 million barrels per day of Nigeria’s crude oil for 2017/2018.

NNPC made this disclosure in a statement through its Group General Manager, Crude Oil Marketing Division (COMD) Mr. Mele Kyari.

According to the statement, the contract will run for one year effective January 1, 2017 for consecutive 12 circles of crude oil allocation.

Other Nigerian companies who emerged winner include: Sayyu Dantata’s MRS Oil and Gas, Uche Ogah’s Masters Energy, Alhaji Auwalu Rano’s A.A. Rano Nigeria Ltd, Oladimeji Edwards’ Hyde Energy, and Uju Ifejika’s Britania-U.

The list also include North West Petroleum and Optima Energy, AMG Petroenergy, Arkleen Oil & Gas Ltd, Shoreline Ltd, Emo Oil, Setana Oil and Prudent Energy.

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The International oil traders are: Trafigura, ENOC, BP Trading, Total Trading, UCL Petro Energy, Mocoh Trading, Trevier Petroleum, Heritage Oil, Levene Energy, Glencore and Litasco Supply and Trading Company.

In the government-to-government category, the companies are India Oil Company, Sinopec of China and Saccoil of South Africa, while the two NNPC subsidiaries are Duke Oil and Carlson Hyson.

A total of 224 bids were submitted by companies seeking to purchase and lift Nigerian crude oil grades for the period 2017/2018.

At the bid opening in November 2016, Group Managing Director of NNPC, Mr. Maikanti Baru, had assured the public that NNPC would ensure due process, transparency and fairness in the selection process.

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