The Nigerian National Petroleum Corporation, NNPC has announced the list of successful bidders for the 2017/2018 crude oil term contract.
A statement by Group General Manager, Group Public Affairs, Ndu Ughamadu, said the Group General Manager, Crude Oil Marketing Division of the Corporation, Mele Kyari announced the results in Abuja today.
He said the contract will run for one year effective 1st January 2017 for consecutive twelve circles of crude oil allocation.
The list consists of 39 winners with 18 Nigerian Companies, 11 International Traders, five foreign refineries, three National Oil Companies and two NNPC trading arms.
All the contracts are for 32,000 barrels per day except Duke Oil Limited, an oil trading arm of the NNPC, which shall be for 90,000 barrels per day.
Recall that during the bid opening in November 2016, Group Managing Director of the Corporation, Dr. Maikanti Baru had assured the public that NNPC will ensure due process, transparency and fairness in the selection process.