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UPDATE 2-Nigeria's NNPC finalises new crude-for-fuel swaps for one year -sources

CommoditiesMay 12, 2021 16:24
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© Reuters.

(Adds NNPC comment)
By Julia Payne and Libby George
LONDON/LAGOS, May 12 (Reuters) - Nigeria's state oil firm
NNPC has picked 16 consortia for its new crude-for-fuel swap
contracts for one year starting in August, sources with direct
knowledge of the matter said.
The list includes major Swiss trading firms Trafigura, Vitol
and Mercuria, oil major Total TOTP.PA as well as large
Nigerian traders Sahara Energy SAH.V , Oando OANDO.LG and MRS
Oil.
The contracts, known as direct sale, direct purchase (DSDP)
are coveted since they are used to supply nearly all of
Nigeria's gasoline needs as well as cover some of its diesel and
jet fuel consumption.
Two sources said each consortium would receive 20,000
barrels per day of crude oil in exchange for products, making
the combined total 320,000 barrels per day of Nigeria's output.
The west African nation and OPEC member produced about 1.5
million bpd of crude in April. OPEC/O
The companies were invited on Friday to submit commercial
bids, which were due on Tuesday. Those involved in the process
said the list of winners was unlikely to change substantially.
A spokesman for NNPC said that the list was still being
finalised but did not provide further details.
The new DSDPs will replace those from 2019 which were
extended until mid-2021. If a foreign oil company wins then it is typically paired
with at least one local firm. Here is the final list, according
to the sources:

CONSORTIA
1 Totsa/Total Nigeria
2 Oando/Cepsa
3 AY Maikifi/Britannia-U/Emadeb/Hyde
4 Trafigura/AA Rano
5 Litasco/PV Oil/Overbrook/Northwest
6 MRS Oil
7 Sahara Energy
8 Bono/Century/Amazon/Cordero
9 Eyrie/Levene/Bovas/DK Global
10 Mercuria/Barbedos/Rainoil/Petrogas
11 Asian/Masters/Casiva/Cimaron
12 Duke Oil (NNPC subsidiary)
13 Prudent/UTM/Matrix/Petra Atlantic
14 BP/AYM Shafa
15 Vitol
16 Mocoh/Panero/Stopgap/Mainland

UPDATE 2-Nigeria's NNPC finalises new crude-for-fuel swaps for one year -sources
 

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