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NNPC Awards 2017 Crude Oil Term Contracts to 39 Companies

Source: Reuters 1/3/2017, Location: Africa

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State-run Nigerian National Petroleum Corporation (NNPC) has awarded its 2017 crude oil term contracts to 39 companies, the company said. The contracts covering about 1.31 million barrels per day (bpd) of crude oil were awarded to 18 Nigerian companies, 11 international trading houses, five foreign refineries, three national oil companies and two "NNPC Group trading arms," the firm said in a statement.

NNPC said the contracts, worth a total of more than $72 million per day at Tuesday's crude prices of around $55.60 per barrel, were each for 32,000 barrels per day (bpd), apart from Duke Oil Ltd, an NNPC Group subsidiary, which was for 90,000 bpd.

The list compared with 27 companies that won contracts of varying sizes for 2016. OPEC member Nigeria typically produces just over 2 million bpd of crude oil, although its 2016 output was hobbled by militant attacks. China's Sinopec and India's Indian Oil Corp were among the winners, as were international firms including the trading arms of BP and Total and trading houses Litasco and Glencore. Absent from this year's list were the trading arms of oil majors ExxonMobil, Shell and Eni, trading houses Mercuria and Taleveras and refiner Saras, all of whom were on the 2016 contract list. Vitol's trading arm was also not on the list, although, Varo Energy, a joint venture between Vitol and private equity firm Carlyle Group, was.

NNPC head Maikanti Baru said the group had received bids from 224 companies. He said the decision to announce the winners reflected NNPC's commitment to transparency. "We'll ensure transparency and fairness in the process," Baru said in a statement.

Refiners

- Hindustan Refinery: 32 '000 bpd Volume
- Varo Energy: 32 '000 bpd Volume
- Sonara Refinery: 32 '000 bpd Volume
- Bharat Petroleum: 32 '000 bpd Volume
- Cepsa: 32 '000 bpd Volume

International Trading Companies

- Trafigura: 32 '000 bpd Volume
- ENOC: 32 '000 bpd Volume
- BP Trading: 32 '000 bpd Volume
- Total Trading: 32 '000 bpd Volume
- UCL Petro Energy: 32 '000 bpd Volume
- Mocoh Trading: 32 '000 bpd Volume
- Trevier Petroleum: 32 '000 bpd Volume
- Heritage Oil: 32 '000 bpd Volume
- Levene Energy: 32 '000 bpd Volume
- Glencore: 32 '000 bpd Volume
- Litasco Supply and Trading: 32 '000 bpd Volume

Government to Government

- Indian Oil Corp. (India - IOC): 32 '000 bpd Volume
- Sinopec (China): 32 '000 bpd Volume
- SacOil (South Africa): 32 '000 bpd Volume

Nigerian Companies

- Oando: 32 '000 bpd Volume
- Sahara Energy Resouce LTD: 32 '000 bpd Volume
- MRS Oil and Gas: 32 '000 bpd Volume
- A.A. Rano Nigeria Limited: 32 '000 bpd Volume
- Bono: 32 '000 bpd Volume
- Masters Energy: 32 '000 bpd Volume
- Hyde Energy: 32 '000 bpd Volume
- Britania-U: 32 '000 bpd Volume
- North West Petroleum: 32 '000 bpd Volume
- Optima Energy: 32 '000 bpd Volume
- AMG Petroenergy: 32 '000 bpd Volume
- Arkleen Oil & Gas Ltd: 32 '000 bpd Volume
- Shoreline Limited: 32 '000 bpd Volume
- Emo Oil: 32 '000 bpd Volume
- Setana Oil: 32 '000 bpd Volume
- Prudent Energy: 32 '000 bpd Volume

NNPC Trading Companies

- Calson/Hyson: 32 '000 bpd Volume
- Duke Oil Incorporated: 90 '000 bpd Volume
- Total: 39: 1.31 million '000 bpd Volume

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