Mohammed Shosanya
The Nigerian National Petroleum Company (NNPC) Ltd has awarded fresh oil swap contracts valued at $755 million in one month.
The NNPC’s financial records showed as of last November, NNPC awarded oil swap deals to Gulf Transport and Trading, AA Rano Nigeria, PV Oil Singapore PTE Limited, Oando Plc, Sahara Energy Resources, Mercuria, Mocoh SA, and Oando DMCC.
It showed “DSDP project yield crude oil liftings” gulped a total of 1.85 million barrels, valued at $159.24 million in November last year.
NNPC’s document also revealed that NNPC used 6.66 million barrels (valued at $550.13 million) for its “DSDP PPSA crude oil liftings” deal in the same month.
It also said a total of 516,235 barrels was used for the “Federal Inland Revenue Service (FIRS) DSDP crude oil liftings”. The deal was worth $46.35 million.
