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

Capitan Investment

12/05/2021 13:00

(Adds detail, table)
    By Julia Payne and Libby George
    LONDON/LAGOS, 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 Swiss trading firms Trafigura, Vitol
and Mercuria, oil major Total  TOTP.PA  as well as large
Nigerian traders 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.
    NNPC did not have an immediate comment. 
    The companies were invited on Friday to submit commercial
bids, which were due on Tuesday. Those involved in the process
said the list of winners was unlikely to change substantially.
    The new DSDPs will replace those from 2019 which were
extended until mid-2021.  urn:newsml:reuters.com:*:nL8N2KS5V6
    If a foreign oil company wins then it is typically paired
with at least one local firm. Here is the final list:
    
      CONSORTIA
 1    Totsa/Total Nigeria
 2    Oando/Cepsa
 3    AY Maikifi/Britannia-U/Emadeb/Hyde
 4    Trafigura/AA Rano
 5    Litasco/PV Oil/Overbrook/Northwest
 6    MRS Oil
 7    Sahara Energy
 8    Bono/Century/Amazon/Cordero
 9    Eyrie/Levene/Bovas/DK Global
 10   Mercuria/Barbedos/Rainoil/Petrogas
 11   Asian/Masters/Casiva/Cimaron
 12   Duke Oil (NNPC subsidiary)
 13   Prudent/UTM/Matrix/Petra Atlantic
 14   BP/AYM Shafa
 15   Vitol
 16   Mocoh/Panero/Stopgap/Mainland
 
    
    
    

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