Upstream Sector Archives - Orient Energy Review

Total, Google Cloud Develop Solar Mapper

Total Upstream Nigeria Surpasses Local Content Standards

Peace Obi - 22nd September 2020 0

Total Upstream Nigeria Limited at the weekend declared that it has surpassed previous local content standards set in Nigeria. Deputy Managing Director, Deep Water, Total...

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

Peace Obi - 7th September 2020 0

The Nigerian National Petroleum Corporation (NNPC) has reportedly received funding to the tune of $1 billion for upstream operations for its subsidiary, Nigerian Petroleum...

Gender Bar yet to be Broken in the Oil and Gas...

OrientEnergyReview - 14th July 2017 0

Damilola Owolabi calls the shots at Dreg Waters Petroleum. A business-inclined mind from years stretching back to her University days, she shares in this...

Tag: Upstream Sector