339 Foreign, Local Firms Bid to Sell Nigeria’s Crude Oil Grades

By obp001 • 2 weeks ago • 1382 views • 575 comments

At least 339 crude oil trading companies applied for the sale and purchase of Nigerian crude oil grades contracts spanning 2020 to 2022 by the close of the bidding process at noon yesterday.

Last month, the Nigerian National Petroleum Corporation (NNPC), invited “interested and credible companies” to participate in the open tender.

It described credible companies as those who are either bona fide end users who own a refinery and/or retail outlet or possesses a refinery that can process Nigerian crude oil grades.

Other categories include government-to-government arrangement with high energy consuming countries, internationally established and globally recognised large volume crude oil traders as well as indigenous Nigerian companies engaged in Nigerian oil and gas downstream business activities.

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