Home » Uncategorized » Nigeria’s NNPC Picks 16 consortia for Multi-Million Dollar Crude Swap Deals

Nigeria’s NNPC Picks 16 consortia for Multi-Million Dollar Crude Swap Deals

Nigeria’s National Petroleum Corp (NNPC) has picked 16 consortia for its new crude-for-fuel swap contracts for one year starting in August, 2021.

The contracts, known as direct sale, direct purchase (DSDP) are coveted since they are used to supply nearly all of Nigeria’s gasoline needs as well as cover some of its diesel and jet fuel consumption.

A report by Reuters, which showed this, quoted sources with direct knowledge of the matter to have confirmed the information.

“Nigeria’s National Petroleum Corp (NNPC) has picked 16 consortia for its new crude-for-fuel swap contracts for one year starting in August,” the report read.

The list includes major trading firms Trafigura, Vitol and Mercuria, oil major Total TOTP.PA as well as large Nigerian traders like Sahara Energy SAH.V, Oando OANDO.LG and MRS Oil.

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