Business

Nigeria gives more oil purchase deals to local firms as vote looms

Isaac UmunnaComment(0)

State oil firm NNPC has awarded 50 companies with contracts to buy Nigerian crude and more thanhalf of them are local firms, foreign and Nigerian trading sources said.  Of the total, 32 were local companies, doubling the number of awards to Nigerian firms compared to 2017.  NNPC also awarded contracts to supply crude to 12 governments, although it was not clear how many of the deals

would be handled by the companies already on the list of awards.  NNPC awards the oil purchase contracts annually, but sources said the deals this year were for two years not one year.  Contract awards were announced in January last year. Sources said the government may have delayed an announcement this time by several months as it sought to line up more local firms for

awards, so it could drum up support for next year’s election.  The sources said a partial list of firms awarded deals emerged on Monday, with a final list coming out on Tuesday.

This year’s overall total of 50 foreign and local firms was more than the 39 listed in 2017. The list last year also included three bilateral government deals.  NNPC did not respond to calls and emailed requests for comment.  Nigeria’s oil ministry said it produced more than 2 million barrels per day of crude and condensate in April. Exports were expected to average 1.8 million bpd in the first half of 2018,

up from to 1.6 million bpd in 2017, loading programmes showed. The following is a preliminary list of winners: International trading firms and refiners:  Augusta     Switzerland based  BB Energy   Lebanon    Cepsa       Spain Glencore    Switzerland based HPCL        Indian refiner Litasco     Trading arm o Russia’s Lukoil Mocoh       Switzerland Petraco     Switzerland Petrobras   Brazil  Sacoil      South Africa SEER        Unit of South Africa’  SacOil Energy Equity  Resources Ltd  Socar       Trading arm of  Azerbaijan’s SocarSonara      Cameroon refining co  Total       France  Trafigura   Switzerland  Vitol       Britain  Calson      Vitol/NNPC joint  venture  ZR Energy.   Nigerian companies:  AA Rano Aipec  AMG Arkleen  Barbedos Bono Energy  Casiva Cretus  Emadeb Eterna  Gladius Commodities Hinstock  Leighton  Levene  Masters Energy  Matrix  MRS  North West  Oando   Sahara Group  Ocean Bed (Sahara trading subsidiary) Propetrol  Prudent  Setana Setraco  Shoreline  Ultimate Gas  Voyage West African gas  Zitts and Lords Obat Oil & Gas  Duke Oil (NNPC subsidiary)    Deals with governments:  China  India  South Africa Turkey Ivory Coast Ghana  Liberia  Niger  Sierra Leone Senegal Togo  Malawi. Reuters

Isaac Umunna

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