TOT TOTAL SE

By Obafemi Oredein

Special to Dow Jones Newswires

IBADAN, Nigeria--The Nigerian National Petroleum Corporation has issued its 2019-20 direct crude-oil sale and purchase of petroleum products contract to 15 companies, including international refineries, traders and local downstream firms.

The contract is for one year from Oct. 1, 2019 to Sept. 30, 2020, the NNPC said in a statement on Sunday.

However, it did not say the volume of oil to be lifted by each company and the total value of the contract, which it said was awarded following the completion of the 2019-20 tender exercise.

The list of winners of the contract includes trading houses Totsa Total Oil, Vitol, Mercuria, and Trafigura, refiners such as Spain's Cepsa SA (CPS.GU), as well as international oil companies Total SA (FP.FR) and BP PLC (BP.LN).

"The tender process comprised technical and commercial bid submission respectively, evaluation and shortlisting, then commercial negotiations with prequalified companies and engagement of the successful consortia/companies by NNPC," said Ndu Ughamadu, NNPC's spokesman.

The 15 consortia or companies over the contract period will offtake crude oil and in return, deliver corresponding petroleum products of equivalent value to NNPC, subject to the terms of the agreement, Mr. Ughamadu said.

The 15 include: BP Oil International Ltd./Aym Shafa Ltd., Vitol Sa/Calson-Hyson, Totsa Total Oil Trading SA/Total Nig. PLC, Gunvor International BV/AY Maikifi Oil & Gas Co., Trafigura Pte Ltd./A. A. Rano Nig. Ltd. and Cepsa SAU/Oando PLC.

The others include: Mocoh SA/Mocoh Nig. Ltd., Litasco SA/Brittania-U Nig. Ltd./Freepoint Commodities, MRS Oil & Gas Co., Sahara Energy Resource Ltd., Bono Energy Ltd./Eterna PLC/Arkleen Oil & Gas Ltd./Amazon Energy and Matrix Energy Ltd./Petratlantic Energy Ltd./UTM Offshore Ltd./Levene Energy Development Ltd.

The remaining winners are: Mercuria Energy Trading SA/Barbedos Oil & Gas Services Ltd./Rainoil Ltd./Petrogas Energy, Asian Oil & Gas Pte Ltd./Eyrie Energy Ltd./Masters Energy Oil & Gas Ltd./Casiva Ltd. and Duke Oil Co. Inc.

The Nigerian Downstream Companies on the list include Oando PLC, Eterna Oil, MRS Oil and Gas, Sahara Energy Resource Ltd., and Duke Oil, which is a trading subsidiary of the NNPC.

Nigeria, Africa's biggest crude-oil exporter, earns more than 90% of its foreign-exchange earnings and 70% of government revenue from crude exports, according to the International Monetary Fund.

Mr. Ughamadu said the tender process was done in line with the commitment of the NNPC's new Group Managing Director, Mele Kyari's pledge to accountability and transparency when he took office in July.

Write to Barcelona Editors at barcelonaeditors@dowjones.com

(END) Dow Jones Newswires

August 19, 2019 06:37 ET (10:37 GMT)

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