TheCable

The Nigerian National Petroleum Corporation (NNPC) has issued an invitation to tender to companies interested in the direct-sale-direct-purchase contract.

The agreement allows for sales of crude oil to refiners, who will in turn supply NNPC with an equivalent worth of petroleum products.

It eliminates middlemen and allows NNPC to take control of crude oil transactions with its partners.

According to a circular released by NNPC, the bid only applies to international companies that own a refinery with a capacity to process Nigerian crude oil grades; a globally recognised large volume petroleum product trading company; and a company engaged in Nigerian oil and gas downstream activities with the trading of petroleum product expertise.

The corporation, however, said international companies must have a Nigerian affiliate or subsidiary or maybe in partnership with a Nigerian company engaged in downstream oil and gas business particularly petroleum products trading.

It said interested bidders must possess some statutory, financial, technical, business integrity, compliance with Nigerian contents documents that are required for the 2020-2021 DSDP bid.

NNPC explained that interested bidders must possess detailed company’s profile with full details of company’s resume demonstrating company’s capabilities, and Nigerian companies must submit evidence of current relevant certification with Department of Petroleum Resources (DPR).

The corporation said the deadline for bids submission, which will be opened virtually, is on January 21, 2021. However, the company’s name, full address, authorised contact person, email address and phone number must be submitted to [email protected] on or before December 22, 2020.