Nigeria's NNPC finalises new crude-for-fuel swaps for one year - sources

Capitan Investment

12/05/2021 12:22

LONDON, May 12 (Reuters) - Nigeria's National Petroleum Corp
(NNPC) has picked 16 consortia for its new crude-for-fuel swap
contracts for one year starting in August, sources with direct
knowledge of the matter said. 
    The list includes major trading firms Trafigura, Vitol and
Mercuria, oil major Total  TOTP.PA  as well as large Nigerian
traders like Sahara Energy  SAH.V , Oando  OANDO.LG  and MRS
Oil.
    The contracts, known as direct sale, direct purchase (DSDP)
are coveted since they are used to supply nearly all of
Nigeria's gasoline needs as well as cover some of its diesel and
jet fuel consumption.

 (Reporting by Julia Payne in London and Libby George in Lagos,
editing by Louise Heavens)
 ((julia.payne@thomsonreuters.com; +44 207 542 1836;))