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NNPC crude lifting contract: Sahara, Oando, others emerge top gainers



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A breakdown of winners of the Nigerian National Petroleum Corporation crude lifting contracts that covers 991,000 barrels per day of oil, worth $13.5 billion at current oil prices shows that indigenous oil firms got the lion share of the contracts.
Nigerian downstream players with wide experience in crude trading and large asset base accounts for 405, 000 bpd representing about 41 percent of total crude volume on offer.
In this category, Emo Oil & Petrochemical Coy/China Zhenhea- an NNPC long term trader is allocated 45, 000 bpd. Other off-takers in this category include: Northwest Petroleum and Gas Ltd, 45, 000 bpd, Forte Oil, 45, 000 bpd, Oando PLC, 60, 000 bpd, Sahara Energy Resource Ltd, 60, 000 bpd, A.A. Rano Nig. Ltd, 45, 000 bpd, Eterna Oil, 45, 000 bpd and MRS Oil &Gas Coy Ltd 60, 000 bpd.
240, 000 bpd representing 24 per cent of the total volume on offer is awarded to four refiners classified as major current receivers of Nigerian crude with capacity to process all of Nigerian crude grades.
The off-takers in this category include: Emirates National Oil Coy, ENOC, Indian Oil Corporation, CEPSA Refinery Madrid and Sara SPA Refinery. Each of the off-takers in this category was awarded 60, 000 bpd.
Three notable international trading companies, namely Trafigura PT Ltd, Mercuria Energy Trading SA and Vitol SA, won the bid for the lifting of 32, 000 bpd of crude based on their pedigree as large scale buyers of Nigerian crude with structure for short -term freight intervention and storage. The off-takers in this category represent about 10 per cent of total crude volume on offer.
Trading affiliates of international oil companies consisting ENI Trading and Shipping SPA, TOTSA Total Oil Trading SA, Exxon Sale and Supply LLC and Shell Western Supply and Trading received term allocation of 32, 000 bpd each totaling 128, 000 bpd representing about 13 per cent of total volume of crude oil on offer.
NNPC trading companies, Calson/Hyson 32, 000 bpd and Duke Oil Incorporated 90, 000 bpd account for combined off-take of 122, 000 bpd representing about 12 percent of total volume on offer.

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