News

Nigeria’s NNPC finalizing $6 billion worth of oil-for-product swaps

May 20, 2017

London, May 18 (Reuters) – Nigeria’s state oil is in the final stage of signing $6 billion worth of deals to exchange more than 300,000 barrels per day (bpd) of crude oil for imported gasoline and diesel.

Hyde Energy Limited is one of the 10 contract awardees of the Nigeria National Petroleum Corporation (NNPC) $6 billion crude oil for exchange for gasoline contracts elevating Hyde Energy Limited status in the Nigerian Oil and Gas industry.

The following is a list of the 10 groupings

Trader/ Refinery Local Partner(s) Volume (minimum expected)
Trafigura AA Rano 33,000 bpd
Petrocam Rainoil/Falcon Crest 33,000 bpd
Mocoh Heyden 33,000 bpd
Cepsa Oando 33,000 bpd
Sahara SIR 33,000 bpd
Mercuria Matrix/Rahmaniya 33,000 bpd
Socar Hyde 33,000 bpd
Litasco MRS 33,000 bpd
Vitol Varo 33,000 bpd
Total Total 33,000 bpd
10 groupings 330,000 bpd