The Nigerian National Petroleum Corporation, NNPC, is set to invite tenders for the sale and purchase of the Nigerian crude oil grades.
A competent source within the Corporation told the News Agency of Nigeria (NAN) on Thursday in Abuja.
The source said NNPC, which sells Nigerian crude oil grades on Free-On –Board (FOB) basis, has grouped the expected prospects for the juicy oil contracts into four categories.
The categories are bonafide end users who own a refinery and/or retail outlets and government to government arrangements (bilateral relationships).
Others are established and globally-recognised large volume crude oil traders and indigenous Nigerian companies engaged in petroleum downstream business in the country.
According to the source, who is familiar with tender administration in the NNPC, bidders would be given ample time to make their submissions.
“Applications may extend to the second week of January 2018.
“The duration of the term contract would be for a period of one year,’’ the source revealed.
NAN gathered that details of the tender are expected to be made public before the week runs out and this is expected to enjoy wide publicity, locally and internationally.
NAN further gathered that the NNPC Group Managing Director has given strict directives that the tendering process should comply with the Corporation’s commitment to transparency.
The NNPC motto for transparency is a `Focused, Accountable, Competitive and a Transparent Organisation that is conducting its business with Integrity’.
“Expect strict tender requirements on compliance with the Nigerian Content Act.
“Prospects must be forthcoming with detailed Nigerian Content execution strategy in line with the requirements of the Nigerian Content Development and Monitoring Board,’’ the source said. (NAN)
