Crude oil lifting: 224 bid for contract, says NNPC

The Nigerian National Petroleum Corporation (NNPC) on Thursday disclosed that 224 companies have submitted bids to be contracted for the lifting and sale of the corporation’s crude oil for the next one year.

According to the corporation, the list dropped from 278 that applied for the job in 2015, saying the NNPC’s introduction of new requirements in the bid process brought about the reduction in the number.

The Group Managing Director of the NNPC, Dr. Maikanti Baru, who kicked off the bid opening session at its headquarters in Abuja, said refiners and big crude oil lifters will be given priority in the process which is expected to be concluded in February 2017.

He also disclosed that about 700,000 barrels per day of oil (bpd), including Joint Venture and Production Sharing Contract volumes will be put out for lifting within the term.