Nigeria's state-oil firm awards 2017 crude oil term contracts to 39 companies

State-run Nigerian National Petroleum Corporation (NNPC) has awarded its 2017 crude oil term contracts to 39 companies, the company said on Tuesday.

The contracts covering about 1.31 million barrels per day (bpd) of crude oil were awarded to 18 Nigerian companies, 11 international trading houses, five foreign refineries, three national oil companies and two "NNPC Group trading arms," the firm said in a statement.
NNPC said the contracts, worth a total of more than $72 million per day at Tuesday's crude prices of around $55.60 per barrel, were each for 32,000 barrels per day (bpd), apart from Duke Oil Ltd, an NNPC Group subsidiary, which was for 90,000 bpd.
The list compared with 27 companies that won contracts of varying sizes for 2016. OPEC member Nigeria typically produces just over 2 million bpd of crude oil, although its 2016 output was hobbled by militant attacks.
China's Sinopec and India's Indian Oil Corp were among the winners, as were international firms including the trading arms of BP and Total and trading houses Litasco and Glencore.
Absent from this year's list were the trading arms of oil majors ExxonMobil, Shell and Eni, trading houses Mercuria and Taleveras and refiner Saras, all of whom were on the 2016 contract list. Vitol's trading arm was also not on the list, although, Varo Energy, a joint venture between Vitol and private equity firm Carlyle Group, was.
NNPC head Maikanti Baru said the group had received bids from 224 companies. He said the decision to announce the winners reflected NNPC's commitment to transparency.
"We'll ensure transparency and fairness in the process," Baru said in a statement.

Contract holder	Volume ('000 bpd)
Refiners
Hindustan Refinery	32
Varo Energy	32
Sonara Refinery	32
Bharat Petroleum	32
Cepsa	32
International Trading Companies
Trafigura	32
ENOC	32
BP Trading	32
Total Trading	32
UCL Petro Energy	32
Mocoh Trading	32
Trevier Petroleum	32
Heritage Oil	32
Levene Energy	32
Glencore	32
Litasco Supply and Trading	32
Government to Government
Indian Oil Corp. (India - IOC)	32
Sinopec (China)	32
SacOil (South Africa)	32
Nigerian Companies
Oando	32
Sahara Energy Resouce LTD	32
MRS Oil and Gas	32
A.A. Rano Nigeria Limited	32
Bono	32
Masters Energy	32
Hyde Energy	32
Britania-U	32
North West Petroleum	32
Optima Energy	32
AMG Petroenergy	32
Arkleen Oil & Gas Ltd	32
Shoreline Limited	32
Emo Oil	32
Setana Oil	32
Prudent Energy	32
NNPC Trading Companies
Calson/Hyson	32
Duke Oil Incorporated	90
Total: 39	1.31 million

© Reuters News