Crude-For-Fuel Contracts, Crude-For-Fuel Swap

Crude-For-Fuel Contracts, Crude-For-Fuel Swap

Buhari campaigner, 35 others get crude-for-fuel contracts

8/19/2019 9:02:00 AM

Buhari campaigner, 35 others get crude-for-fuel contracts

’Femi Asu and Okechukwu NnodimThe Nigerian National Petroleum Corporation has awarded its 2019/2020 contracts for the exchange of crude oil for imported petroleum products to 15 consortiums/companies, including Casiva Limited, whose Chairman, Alhaji Nasiru Danu, was the Director of Logistics for the Buhari Campaign Organisation.

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A total of 15 groupings, with 36 companies in total, will participate in the 2019/2020 Direct Sale of crude oil and Direct Purchase of petroleum product arrangement, according to a statement on Sunday.Under the DSDP scheme, companies, including international trading houses and indigenous companies, are allocated crude supplies in exchange for the delivery of an equal value of petrol and other refined products to the NNPC.

The NNPC, in a statement by its Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu, said following the completion of the 2019/2020 DSDP tender exercise, 15 consortia/companies made up of reputable and experienced international companies and Nigerian downstream companies emerged successful.

The contract is for one year effective October 1, 2019 to September 30, 2020, according to Ughamadu.The winners are BP Oil International Ltd/AYM Shafa Ltd; Vitol SA/Calson-Hyson; Totsa Total Oil Trading SA/Total Nigeria Plc; Gunvor International B.V./AY Maikifi Oil & Gas Co. Ltd; Trafigura Pte Ltd/A. A. Rano Nigeria Ltd; Cepsa S.A.U./Oando Plc; Mocoh SA/Mocoh Nigeria Ltd; and Litasco SA/Brittania-U Nigeria Ltd/Freepoint Commodities.

Others include MRS Oil & Gas Company Ltd; Sahara Energy Resource Ltd; Bono Energy Ltd/Eterna Plc/Arkleen Oil & Gas Ltd/Amazon Energy and Matrix Energy Ltd/Petratlantic Energy Ltd/UTM Offshore Ltd/Levene Energy Development Ltd.The rest are Mercuria Energy Trading SA/Barbedos Oil & Gas Services Ltd/Rainoil Ltd/Petrogas Energy; Asian Oil & Gas Pte Ltd/Eyrie Energy Ltd/Masters Energy Oil & Gas Ltd/Casiva Ltd; and Duke Oil Company Incorporated.

Findings by one of our correspondents revealed that Mr Yakubu Maishanu is the chairman/Chief Executive Officer of AYM Shafa Ltd; Alhaji Adamu Maikifi, chairman, AY Maikifi Oil & Gas Co. Ltd; Alhaji Auwalu Rano, chairman/CEO, A.A. Rano Nigeria Ltd; chairman/CEO; Mr Wale Tinubu, group managing director, Oando Plc; Mrs Uju Ifejika, chairman/CEO, Brittania-U Nigeria Ltd.

MRS Oil & Gas Company is a subsidiary of MRS Holdings Limited, founded by Alhaji Sayyu Dantata. Mr Patrice Alberti was appointed as the chairman of the company following the resignation of Dantata in July 2017.Sahara Energy Resource Ltd, a subsidiary of Sahara Group, was co-founded by Mr Tonye Cole, the governorship candidate of the All Progressives Congress in Rivers State for the 2019 elections.

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Eterna Plc has Mr Lamis Dikko as its chairman and Mr Mahmud Tukur, a son of a former National Chairman of the Peoples Democratic Party, Mr Bamanga Tukur, as the managing director/CEO.Arkleen Oil & Gas Ltd was founded by Dr Gregory Ero, while Rainoil Limited was founded by Mr Gabriel Ogbechie, who is the company’s Group Managing Director.

READ ALSO:Folarin asks el-Rufai, others to stop 2023 debateAmazon Energy has Mr Trevor Akindele, a pastor at City of David Parish, Redeemed Christian Church of God, as its chairman, while Matrix Energy’s MD/CEO is Mr Abdulkabir Aliu. Aliu is the pioneer Group CEO and a founding member, according to the company’s website.

Levene Energy Development Limited is a subsidiary of Levene Energy Group whose Group Chairman and Group Vice Chairman are Mr Asue Ighodalo and HRM Nasir Ado Bayero, respectively.UTM Offshore Ltd has Mr Julius Rone as its GMD/CEO, while Vincent Ajala is the Executive Vice Chairman of Masters Energy Oil & Gas.

Five of the indigenous companies, namely: Barbedos Oil & Gas Services Ltd, Petrogas Energy, Bono Energy Limited, Petratlantic Energy Limited and Eyrie Energy Ltd, did not disclose their board of directors and management team on their websites.“Under the DSDP arrangement, the 15 consortia/companies shall over the contract period off-take crude oil and in return, deliver corresponding petroleum products of equivalent value to the NNPC, subject to the terms of the agreement,” the NNPC said.

The corporation announced in May this year that 132 firms submitted bids for the 2019 DSDP scheme.Copyright PUNCH.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

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