254 firms bid to lift Nigeria’s crude oil

NNPC’s Group Managing Director, Dr. Maikanti Baru

Enterprise Television- 254 firms bid to lift Nigeria’s crude oil

The Federal Government is considering about 254 bids from indigenous and foreign companies interested in the sale and purchase of the government’s equity crude under the 2018/2019 crude oil term contracts.

The successful companies would participate in the lifting of thousands of barrels per day of crude oil on offer by the NNPC on Free on Board (FOB) basis subject to the execution of sales and purchase agreement between NNPC and the companies

Speaking at the event, Group Managing Director of the NNPC, Dr. Maikanti Baru, said that the public bid opening was in consonance with the transparency and accountability agenda of President Muhammadu Buhari in the oil and gas industry.

“Over the years, we have established processes that have enabled the engagement of the best partners and guaranteed full automation and recovery of the full value of all crude oil lifted,” he said.

Baru said the NNPC has also promoted greater participation of Nigerian enterprises while preserving world class standards.

The event which was broadcast live on a national television network had in attendance representatives of the bidding companies and officials of the Bureau of Public Procurement (BPP) Department of Petroleum Resources (DPR) Nigerian Extractive Industries Transparency Initiative (NEITI) Nigerian Content Development and Monitoring Board, (NCDMB) and some members of the civil society as observers.