Nigeria, January 4, 2017 – Northwest Petroleum has been named amongst the 39 winners of the Nigerian crude oil export contract for 2017/2018. The results were announced by the Group General Manager, Crude Oil Marketing Division NNPC, Mele Kyari, who said the contract would run for one year effective from January 1 for consecutive 12 circles of crude oil allocation. The list comprises 39 winners with 18 Nigerian companies, 11 International Traders, 5 foreign refineries, 3 National Oil Companies (NOCs) and 2 NNPC trading arms.
Northwest Petroleum and all other winners got contracts for 32,000 barrels per day except Duke Oil Ltd, an oil trading arm of the NNPC, which shall be for 90,000 barrels per day.
It would be recalled that during the bid opening on November 26, 2016, the Group Managing Director of the corporation, Maikanti Baru, assured the public that NNPC would ensure due process, transparency and fairness in the selection process. Also, a total of 224 bids were submitted by companies seeking to purchase and lift Nigerian crude oil grades for the period 2017/2018.
The indigenous beneficiaries are Northwest Petroleum, Oando, Sahara Energy, MRS Oil and Gas, AA Rano, Bono, Masters Energy, Eterna Oil and Gas, Cassiva Energy, Hyde Energy and Brittania-U. Others are Optima Energy, AMG Petroenergy, Arkiren Oil and Gas Limited, Shoreline Limited, Entourage Oil, Setana Energy and Prudent Energy. The international beneficiaries are Trafigura, ENOC Trading, BP Trading, TOTAL Trading, UCL Petroenergy, Mocho, Tevier Petroleum, Heritage Oil, Levene Energy, Glencore and Latasco Supply and Trading. The five foreign refineries are Hindustan Refinery, Varo Energy, Sonara Refinery, Bharat Petroleum and Cepsa while the NOCs are India Oil Company, China (Sinopec) and South Africa (Saccoil). The NNPC trading arms are Duke Energy and the Carlson Hyson.
About Northwest Petroleum
Northwest Petroleum & Gas Company Limited is a Company in the Oil & Gas Sector of the economy with International repute. The Company has vast experience in the importation, supply, distribution and storage of Petroleum Products and is also actively involved in the official export of Crude Oil from Nigeria being one of thirty-nine Companies approved by the Nigerian National Petroleum Corporation (NNPC) for allocation and export of Nigerian Crude Oil. Presently, amongst other facilities, the Company operates two (2) Ultra-Modern Mega Petroleum Products Storage Terminals with combined capacity of 96.8 Million litres certified and duly licensed by the Department of Petroleum Resources (DPR) and an Ultra-Modern Berthing Facility with International state-of-the-art Fire Fighting and Safety Equipment in the Calabar Free Trade Zone, Cross River State. The Company also owns and operates several 24– and 26- Ultra-Modern Mega Petroleum Products Filling Stations across the Country under a very rapid expansion program. For more information, visit www.northwestpetroleum-ng.com.
NORTHWEST PETROLEUM & GAS WINS CRUDE EXPORT CONTRACT