nnpc crude oil lifting contracts 2020

nnpc crude oil lifting contracts 2020 on May 29, 2021

The Nigerian National Petroleum Corporation, NNPC, has awarded a two-year crude oil lifting contract to 50 companies. NNPC Invites Bidders for Crude Oil Contracts Posted by: admin in Uncategorized September 5, 2020 0 The Nigerian National Petroleum Corporation (NNPC) has invited local and international companies to submit bids to lift Nigerian crude and condensates for 2021. Sale Options. The Managing Director of NNPC Trading Limited, Mr. Ibrahim Waya, disclosed this in an interview published… Over 15 companies win contracts to lift crude oil - All ... The Nigerian National Petroleum Corporation (NNPC) on Sunday released the list of 15 winners of the crude oil lifting contracts 2019/2020 under the Direct Sale of Crude Oil and Direct Purchase of Petroleum Products (DSDP) arrangement. NNPC awards new crude oil lifting contracts to 21 firms ... . Authors: News Agency Of Nigeria. PDF Performance Review - FIX OUR OIL 4.1 The quantities of Crude Oil to be delivered to the BUYER under this Contract shall be evenly spread through the calendar months. According to a statement by the NNPC spokesperson, Ndu Ughamadu, the list of the 36 successful companies in 15 operational groups include: BP OIL INTERNATIONAL LTD./AYM SHAFA LTD. VITOL SA/CALSON-HYSON. The DSDP contract is an arrangement put in place by the NNPC to sustain the availability of petroleum products in the country by selling crude oil to oil companies who in turn provide petroleum . The contract is for one year effective October 1, 2019, till September 30, 2020. Each company is expected to lift 30,000 barrels per day, bpd, a drop of 2,000bpd . In compliance with the Public Procurement Act 2007, NNPC to engage qualified and reputable companies for the sale, purchase and lifting of Nigerian crude oil grades. 2020 crude oil lifting contracts. The Nigerian National Petroleum Corporation (NNPC) on Sunday, August 18, 2019, released the list of 15 winners of the crude oil lifting contracts 2019/2020 under the Direct Sale of Crude Oil and Direct Purchase of Petroleum Products (DSDP) arrangement. According to Bloomberg, a former BP Plc oil trader, Jonathan Zarembok, in an ongoing suit, alleged that "abnormally large" fees were paid by his former employer to secure crude lifting . This information was contained in a bid advert published on the company's verified Twitter account on Wednesday. The NNPC disclosed this in statement from its Group General Manager, Group Public Affairs, Mr. Ndu Ughamadu, titled: Publishing of Successful Bidders for the 2019/2020 Direct Sale of Crude Oil and Direct Purchase of Petroleum Products (DSDP) Contract," obtained yesterday. 0. At the moment, 39 local and foreign firms . Major outcome of reforms. It is also expected that Brent crude oil prices may average $41 per barrel during the second half of 2020 and $50 per barrel during 2021. Bello said that the committee was set up three years ago by the Federal Ministry of Transportation with a mandate to promote Nigerian ownership of ships and vessels, to enable local companies to take control of the shipping business. In June, 2020, the Mele-Kyari led NNPC management blazed the trail by . The Nigerian National Petroleum Corporation (NNPC) has picked 26 foreign and local companies as well as 12 countries to lift the country's crude oil for the next two years. Over 15 companies win contracts to lift crude oil. Crude oil and gas lifting is classified into equity export and domestic export, both of The guidelines said the crude will continue to be sold on a FOB basis, "subject to the execution of a sales and purchase agreement with selected buyers." According to the allocation paper seen by THISDAY which was signed by NNPC's Group General Manager in charge of Crude Oil Marketing Division, Mr. Mele Kyari, each of the 50 companies would lift 950,000 barrels of crude oil in the two-year duration of the contracts, which would run from July 2018 to June 2020. The current Nigerian crude oil term contracts (2018-20) involve the export of around 1 million b/d of crude and condensate, out of the 2.2 million b/d Nigeria has the capacity to produce. This information was contained in… NIGERIAN NATIONAL PETROLEUM CORPORATION NNPC TOWERS, HERBERT MACAULAY WAY, P.M.B. Recently, the Nigerian Maritime Administration and Safety Agency (NIMASA) at a private meeting with officials of the Nigerian National Petroleum Corporation (NNPC) announced its desire to change crude oil lifting contracts in Nigeria (the International Commercial Terms of trade for the carriage of Nigerian Crude Oil) from FOB to CIF "to ensure greater benefits for the country from its oil . 8.6% of the entire . The proceeds from the sale of domestic crude oil and gas stood at N1.54tn in 2020, down from N1.57tn in 2019, data collated from NNPC reports showed. NNPC shall deliver monthly crude oil lifting on Free on Board (FOB) basis to Production Sharing Contracts (PSC) accounted for 21.59% while the Nigerian Petroleum Development Company (NPDC) accounted for 9.28%. NNPC Tender process. The publication of the list winners is coming shortly after the new Group Managing Director of the corporation, Mele […] oil rig. The 50 companies were among a total of 254 that . The was disc losed in a statement issued by its spokesman, Mr Ndu Ughamadu, through the corporation official twitter handle @NNPCgroup on Sunday. The crude term contracts, expected to run from 2021 through 2023, would see the firms and the selected nations, which would operate on a Government-to-Government (G2G . In a related development, the Nigerian National Petroleum Corporation (NNPC), has extended, for six months, its contracts with private oil companies to swap crude oil for fuel, even as the corporation's legal team has saved the country about $5 billion. The Nigerian National Petroleum Corporation (NNPC) has issued a tender inviting qualified and reputable companies for the sale, purchase and lifting of Nigerian Crude Oil grades. Those qualified to apply to the NNPC for Crude Oil Purchase include the following: A bonafide end user who owns a refinery or retail outlet that can process Nigerian crude oil grades. The Nigerian National Petroleum Corporation (NNPC) has picked 26 foreign and local companies as well as 12 countries to lift the country's crude oil for the next two years. The NNPC said the transfers were made to the JV cash call account as first line charge "to guarantee current and future production". 4.2 LIFTING SCHEDULE Not later than thirty (30) days before the commencement of the relevant Month that the BUYER is programmed to lift Crude Oil, the SELLER shall notify BUYER of the This comes as the NNPC on Sunday published the names of 15 firms that have been awarded contracts to lift Nigeria's crude for the 2019/2020 crude oil term from October 1, 2019 to September 30, 2020. | December 1, 2021 Nigeria's state oil firm NNPC has picked 16 consortia for its new crude-for-fuel swap contracts for one year starting in August, sources with direct knowledge of the matter said. Oil major Total, along with international oil trading companies Trafigura, Vitol and Glencore, Azerbaijan's Socar, India's International Oil Corporation and Russian Lukoil's trading arm Litasco are some of the companies included in the 2018-20 NNPC term contract list, according to a copy of the list seen by S&P Global Platts. On September 2, 2020, the NNPC invited local and international companies to bid to lift Nigerian crude oil and condensate. The widespread criticisms that greeted the 2008 crude lifting contract had prompted the Federal Government to drop 18 of the 42 companies that got the contracts. The Nigerian National Petroleum Corporation (NNPC) on Sunday released the list of 15 winners of the crude oil lifting contracts 2019/2020 under the Direct Sale of Crude Oil and Direct Purchase of . INTRODUCTION: . NNPC Selects Vitol, Trafigura, Sahara, Oando, 46 Others for Crude Term Contracts The Nigerian National Petroleum Corporation (NNPC) has issued the 2018/2020 crude export contracts to 50 local and international oil traders, including Vitol, Trafigura and Glencore. S & P Global reported that these crudes. What this means is that there is slim possibility that oil . Checks showed that as part of the efforts to encourage local participation in the lifting contracts, the corporation […] . Compared to the previous month, the overall NNPC crude oil lifting was 5.79Mbbls in August 2021, a record of 33.5 per cent decrease relative to the 8.71Mbbls lifted in July 2021. Compared to the previous month, the overall NNPC crude oil lifting was 5.79Mbbls in August 2021, a record of 33.5 per cent decrease relative to the 8.71Mbbls lifted in July 2021. NNPC TOWERS, HERBERT MACAULAY WAY, P.M.B. A total of 445,000 barrels per day of crude oil is allocated to NNPC for the purpose of supplying refined products for domestic consumption. ON May 3, over 132 oil and gas marketing firms had submitted bids for the lifting of Nigeria's crude oil under the Direct Sales Direct Purchase, DSDP, contracts, but only 14 firms have emerged successful.. 190, GARKI- ABUJA, NIGERIA INVITATION TO TENDER ("ITT") FOR THE 2019 - 2020 DIRECT SALE OF CRUDE OIL AND DIRECT PURCHASE OF PETROLEUM PRODUCT (DSDP) 1. From July 2018 to June 2020 over 32 Nigerian companies will lift 950,000 barrels of crude oil to the international markets and this is official.. Of the 50 companies, 32 were local companies, doubling the number of awards to Nigerian firms compared to 2017, trading sources told Reuters on Tuesday, May 15, 2018. Pricing of Nigerian Crude Oil. Also, he urged NNPC to grant local shipping companies the right of first refusal in crude oil lifting contracts. By Bassey Udo. Yemisi Izuora Operators in the oil and gas industry have described Masters Energy Group as a conglomerate capable of executing bigger oil contracts than Direct Sale Direct Purchase (DSDP) crude contracts of Nigerian National Petroleum Corporation (NNPC). NNPC Picks BP Oil, Sahara, MRS, Duke, Others To Lift Crude. NNPC has awarded oil lifting contracts to 15 companies after the completion of the tender exercise. […] The Nigerian National Petroleum Corporation has invited local and international companies to submit bids to lift Nigerian crude and condensates for 2021. NNPC group invites tenders for 2021 - 2022 Direct Sale of Crude Oil & Direct Purchase of Petroleum Products (DSDP) Nigerian National Petroleum Corporation (NNPC) is empowered pursuant by the NNPC Act (LFN Cap. October 16, 2020 12:15 PM. They said that the recent allocation of The Nigerian National Petroleum Corporation (NNPC) has announced a total export receipt for crude oil and gas valued at $120.49 million for the month of September 2020. The federation crude oil and gas lifting are classified into equity export and domestic, both of which are lifted and marketed by the NNPC and the proceeds remitted into the Federation Account. The NNPC noted that out of the total exports, proceeds from crude oil amounted to $85.40 million while gas and miscellaneous receipts stood at $25 . BREAKING: NNPC, Nigeria's State Oil Firm, Announces Oil Lifting Companies For 2019/2020 The corporation, however, stopped short of listing the barrels of petroleum per day each group of firms are . The federation crude oil and gas lifting is classified into equity export and domestic, both of which are lifted and marketed by the NNPC and the proceeds remitted into the . THE Nigerian National Petroleum Corporation (NNPC) says 15 companies have emerged winners of the Direct Sales and Direct Purchase (DSDP) of Crude oil contract for 2019/2020.. The report stated, "The overall NNPC crude oil lifting of 12.2 thousand barrels of oil (export and domestic crude) in October 2020 recorded 38 per cent increase compared with the 8.79 thousand barrels of oil lifted in September 2020. The duration of the contract shall be for period of one year. Nigeria invites bids for crude oil lifting for 2021. 320) to engage in all commercial activities relating to Petroleum Operations. The Nigerian National Petroleum Corporation (NNPC) on Sunday released the list of 15 winners of the crude oil lifting contracts 2019/2020 under the Direct Sale of Crude Oil and Direct Purchase of . NNPC's inability to make existing refineries work - despite monies spent on turn around maintenance, and (2.) A statement by the Group General Manager, Group Public Affairs Division of the Corporation, Dr. Kennie Obateru, said the figure is contained in the September 2020 edition of… Kindly Share This Story: A laden Very Large Crude Carrier (VLCC) underway.

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