NNPC Awards Oil-For-Fuel Swaps

Nigeria’s state oil firm has awarded contracts to exchange crude oil for imported fuel, according to reports from Reuters. 

The reports suggest 15 groups, comprised of 34 companies, have received letters that were circulated on Monday. The NNPC is yet to confirm the development.

The swap deals are highly competitive, with Nigeria representing the largest fuel market in West Africa but remaining largely reliant on imports in order to meet the 40 million-litre daily gasoline requirement.

According to Reuters, oil industry sources have revealed the winning groups to be as follows:

1: BP/Aym Shafa

2: Vitol/Varo

3: Trafigura/AA Rano

4: MRS

5: Oando/Cepsa

6: Bono/Akleen/Amazon/Eterna

7: Eyrie/Masters/Cassiva/Asean Group

8: Mercuria/Barbedos/Petrogas/Rainoil

9: UTM/Levene/Matrix/Petra Atlantic

10: TOTSA

11: Duke Oil

12: Sahara

13: Gunvor/Maikifi

14: Litasco /Brittania-U

15: Mocoh/Mocoh Nigeria