Nigerian National Petroleum Corporation (NNPC) NNPC intends to engage qualified and credible companies in a Direct Sale of Crude Oil and Direct Purchase of Petroleum Product (DSDP) to ensure sustained product supply in the country according to its publication.
NNPC said it shall deliver monthly crude oil lifting on Free on Board (FOB) basis to the supplier who shall in return, deliver petroleum products of Nigerian standard specification to NNPC on Delivered at Place (DAP) basis, at designated safe port (s) in Nigeria.
- Read also: US Market Review and the week ahead, dollar, Bitcoin, Gold
- US Market Review and the week ahead, dollar, Bitcoin, Gold
The petroleum products to be delivered shall be equivalent in value to the Crude Oil received from NNPC subject to the general terms and conditions as would be advised to successful companies subsequently via Term Sheet (TS).
The duration of the 2020 – 2021 DSDP arrangement shall be a period of one year (12 calendar months) commencing from a date that will be advised to successful bidders, NNPC said.
Who May apply
Interested and credible companies who fall under any of the three listed categories should participate in this tender process.
Group A: An established international end-user who owns a refinery with the capacity to process Nigerian crude oil grades and has a Nigerian affiliate or subsidiary experienced in downstream oil and gas business or in partnership with an experienced Nigerian company engaged in downstream oil and gas business particularly petroleum products trading
Group B: An established and globally recognized large volume Petroleum Product Trading Company and has a Nigerian affiliate or subsidiary experienced in downstream oil and gas business or in partnership with an experienced Nigerian company engaged in downstream oil and gas business particularly petroleum products trading.
Group C: An Indigenous company engaged in Nigerian oil and gas downstream activities with the trading of petroleum product expertise.
The category being applied for should be indicated in your application letter and a prospective bidder can only apply under one category.
For more details and how to apply click here.
By: Ifunanya Ikueze
