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Nigeria’s NNPC awards 2017 crude oil term contracts to Hyde Energy Ltd and 38 other companies

January 17, 2017

Adapted from reuters.com

The Nigerian National Petroleum Corporation (NNPC) has announced the list of successful bidders for the 2017/2018 crude oil term contracts.
The list consists of 39 winners comprising 18 Nigerian companies, 11 international traders, five foreign refineries, three National Oil Companies (NOCs), and two NNPC trading arms.
The Group General Manager, Crude Oil Marketing Division (COMD) of the Corporation, Mr. Mele Kyari, who announced the results, according to a statement posted on the corporation’s website, said the contract would run for one year effective January 1, 2017 for twelve consecutive circles of crude oil allocation.
According to the statement, all the contracts are for 32,000 barrels per day except for Duke Oil Limited, the oil trading arm of NNPC, which shall be for 90,000 barrels per day.
Some of the companies that emerged successful, are Oando, Sahara Energy, MRS Oil and Gas, AA Rano, Masters Energy, Eterna Oil, Britannia-U, North West Petroleum, Optima Energy, AMG Petroleum, Setana Energy, Prudent Energy, Arkleen Oil and Gas, Emo Oil, Bono, and Hyde Energy.