128 firms bid for NNPC crude

Posted by News Express | 4 February 2017 | 1,585 times

Gmail icon

•NNPC Towers Abuja.

About 128 indigenous and international oil and gas companies have indicated interest to participate in the Nigerian National Petroleum Corporation’s Direct Sale of Crude Oil and Direct Purchase of Products Programme.

The D.S.D.P. arrangement is a model introduced in 2016 and carried out through Direct Sales of Crude Oil to refiners or consultants, who in turn supply NNPC with equivalent worth of petroleum products.

The batch which bids were opened, is scheduled to last for the next one year, starting from April 2017.

Addressing the interested bidders at the NNPC Towers in Abuja, the Group Managing Director of the Corporation, Dr Maikanti Baru said the programme had saved over 500 million Dollars particularly through reduction in the amount paid on demurrage by the corporation. (Channels TV)


Source: News Express

Readers Comments

0 comment(s)

No comments yet. Be the first to post comment.

You may also like...