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NNPC issues directives on 2019-2020 crude-for-crude swap tender

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The Nigerian National Petroleum Corporation, , has issued its 2019 --for-product tender.

According to the state-owned company through its official Twitter account, the tender will close on May 2 at noon.

The Direct Sale Direct Purchase, DSDP tender document did not specify what date the swap will start or the quantities to be swapped.

The existing swap contract holders include Vitol, Trafigura, Mercuria and French oil major .

Their contract started mid-2017, accounting for just 300,000 bpd of .

Nigeria has been using swaps for about 10 years But the DSDP model was introduced by NNPC in 2016 where it sells to refiners or trading houses, who in return, supply mainly gasoline but also other products such as diesel.

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