About nine months to the 2019 general elections, the Nigerian National Petroleum Corporation (NNPC) has awarded oil-lifting contracts to 50 companies and 32 of the beneficiaries are Nigerian firms, while governments and foreign companies complete the figure.
The oil contracts are awarded in views of the fact that President Muhammadu Buhari is seeking reelection for a second term; whereas there is the history of the ruling party receiving financial donations for electioneering campaigns from oil and gas companies and businessmen.
The 2018 oil contracts are award for two years duration unlike in the past as when such contracts were awarded for one year. There were indicators that the list of beneficiaries may have been expanded.
Nigeria’s daily oil production is about two million barrels per day. Currently, exports were said to ne lower with the shutdown for repairs of the key Trans – Forcados Trunkline due to leakages.
The list released on Tuesday indicated that the contract winners include the following:
Ocean Bed (Sahara trading subsidiary)
West African gas
Zitts and Lords
Obat Oil & Gas
Duke Oil (NNPC subsidiary)
International trading firms and refiners:
Augusta, Switzerland based
BB Energy, Lebanon
Glencore, Switzerland based
HPCL, Indian refiner
Litasco, Trading arm of Russia’s Lukoil
Sacoil, South Africa
SEER, South Africa’s SacOil Energy Equity Resources Ltd
Socar, Trading arm of Azerbaijan’s Socar
Calson, Vitol/NNPC joint venture
Sonara, Cameroon refining co