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NNPC Sells $120.49m Worth of Crude Oil, Gas in September

AKK Gas Pipeline Procurement: NNPC Followed Due Process – BPP...

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The Director-General, Bureau of Public procurement (BPP), Alhaji Maman Ahmadu has said that the Nigerian National Petroleum Corporation (NNPC) followed due process in procurement...
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 Spent N41.98bn in Six Months on Pipeline Repairs – NNPC

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The Nigerian National Petroleum Corporation (NNPC) has said that it spent a total of N41.98bn on pipeline repairs and management cost in the first...
Kenya Slashes Petrol, Diesel and Kerosene Prices

FG Hands-Off Control Over Petrol Price, Says Marketers now Free to...

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The Federal Government on Tuesday announced that it would no longer get involved in fixing of price band for Premium Motor Spirit (PMS) popularly...
Buhari Dashes Hope of Electricity, Fuel Price Hike Reversal

Nigeria Spends N1.09trln on Fuel Importation in Six Months

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National Bureau of Statistics (NBS) has said that Nigeria spent N1.09 trillion to import Premium Motor Spirit (PMS), also known as petrol, in the...
NNPC Sells $120.49m Worth of Crude Oil, Gas in September

AKK Pipeline Project Cost not Inflated by $1.5bn – NNPC Insists

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The Nigerian National Petroleum Corporation, NNPC has dismissed the allegation that the Ajaokuta-Kaduna-Kano (AKK) gas pipeline project was inflated to the tune of $1.527...
Shell Donates Ultramodern Medical Centre to Ogijo Community

Shell Donates Ultramodern Medical Centre to Ogijo Community

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Shell Nigeria Exploration and Production Company Limited (SNEPCo) has donated a 20-bed ultramodern medical centre to Ogijo community in Sagamu Local Government area of...
South Africa’s Petrol Pump Price Increases By 1%

South Africa’s Petrol Pump Price Increases By 1%

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Less than a week after Nigeria announced petrol pump price increase of N151.56 per litre, up from the N138.60 it sold in August, South...
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.

NNPC Receives $1bn Upstream Funding for NPDC Tax Obligations

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The Nigerian National Petroleum Corporation (NNPC) has reportedly received funding to the tune of $1 billion for upstream operations for its subsidiary, Nigerian Petroleum...
December 14: Marketers Fail to Comply With N5 Reduction in Petrol Price

Nigeria’s Petrol Pricing Program Collapses; Fuel Subsidy Returns

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...NNPC pays N5.4bn as subsidy in June There are indications that Nigeria's petroleum pricing formula may have broken down as the Nigerian National Petroleum Corporation,...
Less Than 40% of Nigeria’s Oil Pipelines Operational – NNPC

Nigeria Posts Remarkable Oil and Gas Earnings Despite Covid19

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  ...oil revenues rose by more than a 100% between May and June Nigerian National Petroleum Corporation (NNPC) have said that Nigeria's oil revenues rose by...

Nigeria Records N16.46bn Fall in IOC Taxes

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The Nigerian National Petroleum Corporation (NNPC) has said that the tax revenue accruing to the federal government from Production Sharing Contracts (PSC) with international...
Train 7 to Create 52,000 Jobs, Says NLNG

NLNG Boosts Industry Collaborative Initiative In Edo, Adamawa With Medical Equipments

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… also N234m donations to support COVID-19 response by states. The Nigeria Liquefied National Gas (NLNG) Limited, has donated medical equipment to Edo and Adamawa...
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.

NNPC Rules Out Equity Sale, Reduces Debts in JV with Partners...

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The Nigerian National Petroleum Corporation (NNPC) has disclosed that it won’t sell its equity in oil assets because of low oil prices and general...
Abigail-Joseph FPSO: First E&P, NNPC Partner On Arrival To Nigeria

NNPC, First E&P Partner on FPSO Arrival to Nigeria

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Nigerian National Petroleum Corporation (NNPC), and First Exploration & Petroleum Development Company Limited (First E&P), have confirmed the entrance of the Abigail-Joseph Floating Production...
Nigeria Seals $1.5bn Oil Swap Deal with Vitol, Matrix

NNPC in $1.5bn Oil Prepay Deal with Two World Oil Traders

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Nigeria’s state oil firm NNPC has signed a $1.5 billion prepayment deal led by Standard Chartered (STAN.L) and backed by oil traders Vitol Group...
L-R: Commissioner for Health, Prof. Akin Abayomi; Manager Public Affairs, Nigerian National Petroleum Corporation, Alhaji Aliyu Ja’afaru and Managing Director, Shell Nigeria Exploration and Production Company, Mr Bayo Ojulari at the donation of Covid-19 medical equipment and consumables to the Lagos State Government held at the Infectious Disease Hospital, Yaba... on Friday

Shell’s Intervention Offers Hope to COVID-19 Patients

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The cutting-edge blood component extractor machine just donated to the Lagos State government by Shell Nigeria Exploration and Production Company has been described as...
AKK Pipeline Project

AKK Pipeline Project: OILSERV Ltd Commences Massive Project

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Nigeria is finally on the verge of unlocking huge economic benefits arising from its natural gas endowment as a leading indigenous EPC giant -...
FG spent N9tm in oil subsidy in 10yrs – PPPRA

Nigeria: Independent Marketers Return To Fuel Importation

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 …to have equal access to Forex with NNPC at CBN It has been confirmed that the sole-importer status of Nigerian National Petroleum Corporation (NNPC) of...
Nigeria Needs $70 oil price to Sustain Budget –Sylva

COVID-19 Has Devastated The Nigerian Oil Industry – Sylva

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       …flies scorecard, regrets that pandemic is holding up his mandate. Nigeria’s Minister of state, Chief Timipreye Sylva has declared that the COVID-19 pandemic has...

COVID-19: NNPC, CBN Vote N1bn for Nigerian Evacuees’ Rehab

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The Nigeria National Petroleum Corporation (NNPC) and the Central Bank of Nigeria (CBN) have agreed to fund the feeding and accommodation of Nigerian evacuees...
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