FG Approves 36 Firms For Oil Lifting

The Federal govern
ment has released a provisional list of 36 companies that are eligible                                                                   to lift  crude oil through the Nigerian National Petroleum  Corporation (NNPC) beginning from June 1, 2014 to May 31, 2015.
The Tide source revealed that the list was not final as more companies were expected to make the final one.
The Tide further gathered that the list gave preference  to indigenous companies as against foreign companies as was the practices in the past  and  there was also expectation  that the final list may contain move local names.
Our source gathered that  the companies that were given contracts include 21 indigenous companies, eight  international trading  companies two foreign   refineries, two subsidiaries,  the NNPC and three countries to be represented by their state’s owned National Oil Companies (NOCS).
According to the document, 21 indigenous companies were awarded contract to lift a total of 630,000 barrels  per day of crude oil for one year, which represents 57 per cent  of the  1,179,000 barrels per day contracted to  eight beneficiaries.
Indicated on the list also was eight international  oil traders which got an allocation of 240,000 barrels per day which represents 20.5 per cent while two foreign refineries got 60,000  barrels per day or 5.1 per cent of  the allocation.
A breakdown of the allocation indicated that all of the 21 indigenous traders was given an allocation of 30,000 barrels per day.
Some of the companies, according to the document, include, A-Z Petroleum  Products Limited, Hyde  Energy Nigeria Limited, DK Global Energy Resources, Alateo  Energy Resources, Avidor Oil and Gas Company Limited, Azenith  Energy Resources Limited, Barbados Oil and Gas Services Limited, Century Energy Services Limited and Crudex International Limited.
Others include, Elena Plc, Bono Energy, Televeras Limited, Mezcor SA, Sahara Energy, Resources Limited, Tridax Energy SA, Tempo Energy SA.
The nest are Ontario Trading SA, Voyage Oil and Gas Limited, Elektron Petroleum Energy and Mining Limited, Ibeto Petrochemical  Industries Limited and Emo Oil and  Petrochemical company,  among others.
Also in the list are eight international oil traders which got an allocation of 30,000 barrels per day of crude oil each.