Marginal Oil Fields Archives - Orient Energy Review

Marginal Oilfields: Ijaw Leaders Asks Court to Halt Licencing Rounds

Peace Obi - 9th December 2020 0

Three Ijaw leaders have approached the Federal High Court in Yenagoa to halt the process leading to bids for marginal oilfields located in their...

The Nigerian National Petroleum Corporation, NNPC, has launched a tender process for fuel supplies in the country. It stated that this falls under the NNPC’s direct sale-direct purchase (DSDP) mechanism. Under this system, NNPC will provide monthly crude oil free on board (FOB) cargoes to suppliers, who shall provide petroleum products in return. In the process, companies must register interest by December 22 at 12 noon for the 2020-21 DSDP process. Documents should be submitted by January 21 and NNPC will open these bids online. The products will be on a delivered at place (DAP) basis, to designated ports in Nigeria. The fuel shall be equivalent in value to the crude oil received from NNPC. Under the ongoing process, three different types of company can participate, and they are Foreign refinery owners capable of processing Nigerian crudes, with a Nigerian affiliate or subsidiary. Also, Globally established traders, with Nigerian affiliates or subsidiaries and indigenous companies working in the downstream with trading expertise are qualified to bid. The DSDP contract will run for 12 months, starting at a yet to be revealed time. Bidders must demonstrate they meet various standards, such as audited accounts and minimum turnover thresholds. They must also meet Nigerian content requirements. The NNPC began the DSDP process in 2016 and expects to continue this until 2023. The Corporation awarded the last round of DSDP contracts in August 2019 and was due to expire in September 2020. However, these 2019-20 DSDP awards were extended by six months. Around 130 companies submitted bids in 2019, with 15 winning bids accepted. These included BP, Vitol, Gunvor and Trafigura, in addition to some local companies such as Sahara Energy and MRS Oil and Gas. NNPC included its own Duke Oil unit in the list of 15.

Nigeria’s Marginal Oilfields Crude Production Drops to 1.52mb in 7 months

Peace Obi - 30th November 2020 0

The Nigerian National Petroleum Corporation (NNPC) has said that marginal oil fields in Nigeria produced 1.52 million barrels of crude oil and condensates in...

Ijaw Elders Consider Legal Action against FG Over Marginal Field Bid...

Peace Obi - 19th October 2020 0

A group, Ijaw Elders Forum, has issued a notice of intention to challenge in court the bidding process or marginal field rounds, and seek...

ADM Energy, OilBank Partner in Nigeria’s Marginal Field Round Bid

Peace Obi - 18th September 2020 0

ADM Energy has announced it is participating in the Nigeria’s 2020 Oil Bid Round as a strategic partner of OilBank International, a Nigerian integrated...

Funding Marginal Oil Fields in Africa: ‘Address completion, liquidity risks’, operators...

OrientEnergyReview - 9th September 2015 0

By Nneka Ezeemo, London Small and marginal oil fields’ operators in Africa have been called upon to focus on addressing issues of completion and liquidity...

Tag: Marginal Oil Fields