NNPC Issues Two-year Crude Lifting Contracts to Traders

NNPCThe Nigerian National Petroleum Corporation (NNPC) Tower
  • NNPC Issues Two-year Crude Lifting Contracts to Traders

The Nigerian National Petroleum Corporation has issued crude export contracts that are expected to last two years instead of the usual one year, according to trading sources familiar with the matter.

A partial preliminary list, according to Reuters, showed 30 companies, including the world’s largest energy traders, Vitol, Trafigura and Glencore.

The final list could contain between 50 and 60 companies, the sources added.

The NNPC did not immediately respond to a request for comments.

The list has emerged later than usual.

In 2017, the NNPC published results in January, awarding contracts to 39 companies.

Other companies included in the partial 2018 list are Total, Spain’s Cepsa, the trading arm of Azerbaijan’s Socar and Lukoil’s trading subsidiary, Litasco.

Switzerland-based Mocoh and Petraco, Lebanon’s BB Energy and Nigerian firms, Sahara Group, Eterna and Oando, are also on the list.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya

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