The Nigeria National Petroleum Corporation [NNPC] has thrown open the bid for sale and purchase of crude oil for the 2016 to 2017 term contracts.
According to the NNPC Group Managing Director of NNPC, Dr Maikanti Baru [pictured at the ouset], only refiners, big traders and companies with substantial investment in the oil and gas sector, will scale through the bid.
So far, a total of 224 companies are bidding for the 12 month term contracts tender, for a number of slots the Group Managing Director says will be decided on actual production focus by February 2017.
Representatives from the 224 companies converged on the amphitheater of the NNPC for the opening of the bid.
Dr Baru, who opened the bid after a test of transparency, said that the volume of crude put out for the contract bid is nearly 700,000 barrels of crude per day.
He added that the actual number of companies to emerge from the bidding would be decided in the first quarter of 2017.
The NNPC GMD also stated that Nigeria’s crude is not struggling for market, contrary to speculation.
Rather, it continues to earn premium with major markets in Europe and Asia, with the United States recently added to the list.
In another development, NNPC and Niger Dock Plc have promised to work together in the areas of engineering, procurement and construction to boost the nation’s economy.
This is part of concerted efforts by NNC to grow local content in the Oil and Gas Industry.
NNPC Group Managing Director made this pledge while on a working tour of the Niger Dock facility at the Snake Island Integrated Free Trade Zone in Lagos.
Dr. Baru stated that his visit is part of NNPC’s unflinching commitment to support the development of local content initiatives.
He said: “I am impressed with the span and state-of-the-art technology equipment that I saw.
“The various lay yards and workshops look good and Niger Dock Plc has promised to execute jobs in the country.”
“It is my determination that Niger Dock deserves to be preferentially encouraged to appreciate its contribution to the Government’s call for local content.
“We shall work assiduously towards securing jobs for the company not only to sustain their workforce but also to continue to upgrade their state-of-the-art equipment at all times,” Dr. Baru informed.
He commended the foresight of the Chairman of the company, Mr. Anwar Jarmakani, and the Managing Director, Manssour Jarmakani, for their vision in acquiring and developing snake island assuring of the readiness to always partner with them in contributing to the nation’s economy.
In his response, the Chairman of the company, Mr. Jarmakani pledged the preparedness of the company to continue to work with the NNPC and other industry players to grow capacity in-country.
He said that the company is well equipped to handle all types of engineering, procurement and construction work in the Oil and Gas Industry.
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