NNPC advertises for sale of direct crude oil, purchase of petroleum product

NNPC advertises for sale of direct crude oil, purchase of petroleum product

- The NNPC has commenced the sale of 2019-2020 direct sale of crude oil and purchase of petroleum product with a call for bid

- The corporation said indegenious oil companies with expertise in the downstream sector can also apply for bid

- NNPC said late submission of application would be rejected as deadlines closes 12 noon on Thursday, May 2

The Nigerian National Petroleum Corporation (NNPC) has started the Direct Sale of Crude Oil and direct Purchase of Petroleum Product (DSDP).

The corporation made this known on its Facebook page on Wednesday, March 20, where it said it is receiving tender submission.

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In describing the process involved in DSDP, the petroleum corporation said it will deliver crude oil lifting to suppliers who will ensure the product is taken to the to the different safe ports in Nigeria.

It said: “NNPC shall deliver monthly crude oil lifting on Free on Board (FOB) basis to supplier who shall in return, deliver petroleum products of Nigerian standard specification to NNPC on Delivered at Place (DAP) basis, at designated safe port(s) in Nigeria.

"The petroleum products to be delivered shall be equivalent in value to the Crude Oil received from NNPC subject to the general terms and conditions as would be advised to successful companies subsequently via Term Sheet (TS).”

NNPC said those who could apply for the tender are an established international end user who has a petroleum refinery that could handle Nigeria crude oil, a globally known petro trading company with a Nigerian subsidiary that has a Nigerian partnership, and an Nigerian owned company with knowledge of the downstream sector.

It also mentioned that the bid submission closing date is Thursday, May 2, 2019 at 12 noon, stating that late submission will be rejected and that all submissions must be organized and numbered properly.

The corporation finally added that that all information in the provided submission must in English Language.

It said : "8.1 Late submission shall be rejected.

"8.2 All submissions shall be arranged and numbered in the order listed in Section 6 above in a folder or binder.

"8.3 Only companies who submit the required documentation and meet the prequalification criteria shall be contacted after evaluation. NNPC shall deal directly with only authorized officers of the prequalified companies and not through individuals or agents.

"8.4 All costs incurred by your company as a result of this invitation to Tender and other associated cost in respect of this exercise shall be borne solely by your company.

"8.5 This process of prequalification of a company neither creates a commitment nor establishes any legal relationship with NNPC.

"8.6 All information shall be provided in English Language."

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Meanwhile, Legit.ng earlier reported that following the flag off of the Kolmani River II Well by President Muhammadu Buhari, NNPC on Tuesday, March 19, said it has drilled up to 6,700 feet so far.

The group managing director of corporation, Maikanti Baru, said the drilling project at the well is progressing satisfactorily.

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