Shell, Total, Oando Plc and international trading firms, Trafigura and Vitol, are among companies handed crude oil lifting contracts for 2016 by the Nigerian National Petroleum Corporation.
The NNPC on Thursday announced 21 off-takers as winners of the open bid exercise conducted in October, when 278 bids were submitted by indigenous and foreign firms seeking to secure contracts for the sale and purchase of the 26 Nigerian crude oil grades on offer.
A breakdown of the 2015/2016 crude oil term contract off-takers for the 991,661 barrels per day Nigerian equity crude indicates that 240,000 bpd, representing 24 per cent of the total volume on offer, were awarded to four refiners classified as major current receivers of Nigerian crude.
