224 Bid for NNPC Crude Oil Lifting Contract

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By Chineme Okafor in Abuja

The Nigerian National Petroleum Corporation (NNPC) on Thursday disclosed that 224 companies have submitted bids to be contracted for the lifting and sale of its crude oil in the next 12 calendar months.

The corporation stated that the list dropped from 278 that applied for the job in 2015, saying the NNPC’s introduction of new requirements in the bid process ensured the reduction in the numbers.

According to the Group Managing Director of the NNPC, Dr. Maikanti Baru, who kicked off the bid opening session at its headquarters in Abuja, refiners and big crude oil lifters will be given priority in the process which is expected to be concluded in February 2017.

Baru also said about 700,000 barrels per day of oil (bpd), including Joint Venture and Production Sharing Contract volumes will be put out for lifting within the term.

More to follow…