NNPC slashes crude buyers from 43 to 16

The Nigerian National Petroleum Corporation on Thursday said it had reduced the number of crude oil off-takers for the proposed 2015/2016 term contract from 43 to 16.

It said the move was part of measures to optimise the marketing of the nation’s crude oil and secure new market potential.

The corporation, in a statement signed by its Group General Manager, Group Public Affairs Division, Mr. Ohi Alegbe, said, “In a novel move to instill transparency and probity in the award of the annual crude oil term contract, the NNPC has mapped out measures to execute the 2015/2016 award of contract to companies for the evacuation of Nigeria’s crude oil equity from the various crude and condensate production arrangements.”

It said, “In the days ahead, we shall place advertisement for the 2015/2016 term contracts and the publication will run for one month in major national and international print media to ensure effective message penetration. Later, the guidelines for the selection of new off-takers would be published and subsequently a special bid evaluation committee would be constituted to conduct due diligence on successful applicants.”

The NNPC also clarified that apart from the earlier listed industry operators whose performance trajectory impressed the management of the corporation to invite them to bid for the proposed Offshore Processing Agreements, “the corporation is extending the invitation for competitive bidding to Forte Oil and Mobil, among others.”

It said, “We are throwing the tender process open for competitive bidding by strong industry players with track records of integrity and financial strength to execute the project.”

The nation sells its oil through annual term contracts awarded by the NNPC to a list of companies, both local and international and the firms are then eligible to buy crude throughout the year.

The list of the 2014-2015 crude oil term contracts, which was released in April last year and expanded in June, showed 28 Nigerian firms among the 43 winners.

Comments

DEFECTIONS: Why Saraki, Dogara Others Must Heed Sen. Ibrahim's Call by Comrade Nwokoma Ndubuisi M.

The gale of defections in the National Assembly last week was followed by an advice from no one else than Sen. Abu Ibrahim that the Senate President Dr. Bukola Saraki as well as the Speaker of the House of Representatives Yakubu Dogara and others in the fold of the All Progressives Congress APC that are still masquerading in the party should resign their membership of the party. This call which also implies that they resign their positions as leaders of the various arms of the National Assembly is yet to be complied with by those concerned as at the time of writing this piece Whatever their reasons for still staying put in the party may be, the fact of the matter is that their continued stay in the party has become a sore which must be extricated from the body. As I watched through the proceedings of the defections on national television, I wept for the country for producing such leaders that lack morality despite all the party has given them politically which they ordin...

Rivers Governmnet, PDP Disagree Over $280 million Looan

The Rivers State Government and the Peoples Democratic Party in the state are currently at loggerheads over the request by the state Governor, Mr. Rotimi Amaechi, for a $280m loan for water and sanitation projects. While the state PDP said that the latest request for loan by the state government was unnecessary due to the resources accruing to the state through the federal allocation and internally generated revenue, the government said it was not true that the funds were to be used for 2015 elections. The state House of Assembly had on Monday endorsed Amaechi’s request for loan for water supply and sanitation projects. But the state PDP, in a statement, signed by the Special Adviser to its Chairman, Mr. Jerry Needam, said the request for loan was aimed at punishing the governor’s successor in 2015. The party called on members of the House of Assembly, the Federal Ministry of Finance, the African Development Bank and the World Bank not to honour the loan re...

2019: Northern youths kick as Northwest APC lawmakers endorse Buhari

The leadership of the Arewa Youth Forum on Monday said President Muhammadu Buhari does not deserve any endorsement for the 2019 presidency. Reacting to a purported endorsement by some serving All Progressives Congress’s lawmakers from the Northwest in Kaduna, the AYF’s National President, Alhaji Gambo Gujungu, said Buhari was not fit to return as president in 2019. The AYF argued that with the killing spree all over the country, especially in the North, Buhari should serve his mandatory four years term and quit the stage for another Northerner. Gujungu noted that one sour point about President Buhari’s 2019 ambition was his claim that the killings across the country were being carried out by “desperate politicians”, yet he had not arrested even a single suspect. The AYF president, therefore, said Nigerians should blame the president for the attacks on innocent citizens. The AYF boss who spoke to our correspondent on phone on Monday, said the President’s cl...

newsman

Search This Blog