By Michael Eboh
The Nigerian National Petroleum Corporation, NNPC, Tuesday, said it has discontinued the Offshore Processing Arrangement, OPA, and has replaced it with Direct Sale-Direct Purchase (DSDP) programme.
The NNPC, in a statement by its Group General Manager, Group Public Affairs Division, Mr. Ohi Alegbe, stated that replacement of the OPA with the more efficient DSDP was aimed at enshrining transparency and eliminating the activities of middlemen in the crude oil exchange for product matrix.
To this end, the NNPC disclosed that the call for commercial bids issued to the 44 shortlisted bidders, made up of 34 international firms and 10 indigenous companies have been withdrawn.
According to the NNPC, the Direct Sale-Direct Purchase alternative allows for the direct sale of crude oil by NNPC as well as direct purchase of petroleum products from credible international refineries.
The NNPC further explained that it came to this informed position after the evaluation exercise of pre-qualified bidders revealed that most of the 44 companies earlier shortlisted for the next stage of the tender process only had affiliations to refineries abroad a situation which introduces toll on the value chain.
It added that if allowed to subsist, the development would in turn constitute a significant value loss to the Federation by way of accruals.
The NNPC said, “In this regard, only bona fide owners of Refineries identified in the ongoing OPA Tender Evaluation process will be further engaged. The identified Refineries will be subjected to due diligence and analysis by NNPC appointed consultants to confirm suitability in line with International best practice.”
The NNPC, had last month conducted the public opening of bids tendered by a total of 101 Nigerian and multi-national companies competing for the award of Offshore Processing Arrangements, OPA.
In the OPA, the NNPC undertakes to allocate a dedicated volume of crude oil for refining at offshore locations in exchange for petroleum products at pre-agreed yield pattern.
Speaking at ceremony, the Group Managing Director of the NNPC, Dr. Ibe Kachikwu, had noted that the Corporation had taken the pain to make the process leading up to the award open to public scrutiny to demonstrate before all members of the public that NNPC has nothing to hide.
“At the end of this exercise, we must be able to engage companies that are known to everybody and not shrouded in mysteries. We must have terms that are very transparent and comparative to terms anywhere else in the world where OPA are being done,” Kachikwu said.
He said that while the Corporation was working assiduously to ensure that the refineries were re-streamed to optimal levels, the NNPC would in the interim maximize the OPA’s in such a way as to secure the best deals possible for Nigeria.
“I hope that we should be able to build in futuristic growth patterns in the new deal. We should be able to come up with companies that have solid investments in Nigeria because this is not just a trading issue,” he said.
Also speaking at the ceremony, Mrs. Esther Nnamdi-Ogbue, Managing Director of the Products and Pipeline marketing Company, PPMC, stated that the essence of the exercise is to provide a level playing field for all industry players and to cut-off middle men who have been exploiting the system.
She disclosed that companies that stand a better chance of winning the contracts are those who have refineries, affiliations to refineries or access to refineries.
She stated that the NNPC, through this arrangement, plans to eliminate third party, adding that the companies would be expected to show agreements that have been signed with refineries.

www.vanguardngr.com/D6yeo

Good.

Lalasticlala.......great move

- This is a shock to those 44 companies.

- Nigerians would enjoy low and fluctuating costs of PMS, DPK and AGO moving forward.

- We should expect PMS prices to be as low as N40-N45/litre.

- Nigeria would be free from subsidy payments and we can channel the funds for other developmental purposes.

- Chai, more middlemen in oil business to lose their jobs.

- Rich men would soon understand the impact of this decision by December and January.

- Stealing and corruption in that sector would reduce by more than 70%.

- Ibe Kachikwu would be missed as the key that reformed NNPC.

- God Bless PMB

Some hitherto "I'm into oil & gas " , & overnight rich people with no antecedents going to know how far....

Now no more portfolio companies fleecing the nation..

Now the GOATS are going to pile on more criticism for PMB but ain't nobody gat time for that..


PMB & IBE KACHIKWU, make una carry go,

Nice move. It will create room for accountability and reduce corruption breeding the oil sector. Baba wan make sure he lock every loophole lolz.


In other news.....

its about time

Hu Is doubting that we have a new Sheriff in town??

wachakuta:
By Michael Eboh
The Nigerian National Petroleum Corporation, NNPC, Tuesday, said it has discontinued the Offshore Processing Arrangement, OPA, and has replaced it with Direct Sale-Direct Purchase (DSDP) programme.
The NNPC, in a statement by its Group General Manager, Group Public Affairs Division, Mr. Ohi Alegbe, stated that replacement of the OPA with the more efficient DSDP was aimed at enshrining transparency and eliminating the activities of middlemen in the crude oil exchange for product matrix.
To this end, the NNPC disclosed that the call for commercial bids issued to the 44 shortlisted bidders, made up of 34 international firms and 10 indigenous companies have been withdrawn.
According to the NNPC, the Direct Sale-Direct Purchase alternative allows for the direct sale of crude oil by NNPC as well as direct purchase of petroleum products from credible international refineries.
The NNPC further explained that it came to this informed position after the evaluation exercise of pre-qualified bidders revealed that most of the 44 companies earlier shortlisted for the next stage of the tender process only had affiliations to refineries abroad a situation which introduces toll on the value chain.
It added that if allowed to subsist, the development would in turn constitute a significant value loss to the Federation by way of accruals.
The NNPC said, “In this regard, only bona fide owners of Refineries identified in the ongoing OPA Tender Evaluation process will be further engaged. The identified Refineries will be subjected to due diligence and analysis by NNPC appointed consultants to confirm suitability in line with International best practice.”
The NNPC, had last month conducted the public opening of bids tendered by a total of 101 Nigerian and multi-national companies competing for the award of Offshore Processing Arrangements, OPA.
In the OPA, the NNPC undertakes to allocate a dedicated volume of crude oil for refining at offshore locations in exchange for petroleum products at pre-agreed yield pattern.
Speaking at ceremony, the Group Managing Director of the NNPC, Dr. Ibe Kachikwu, had noted that the Corporation had taken the pain to make the process leading up to the award open to public scrutiny to demonstrate before all members of the public that NNPC has nothing to hide.
“At the end of this exercise, we must be able to engage companies that are known to everybody and not shrouded in mysteries. We must have terms that are very transparent and comparative to terms anywhere else in the world where OPA are being done,” Kachikwu said.
He said that while the Corporation was working assiduously to ensure that the refineries were re-streamed to optimal levels, the NNPC would in the interim maximize the OPA’s in such a way as to secure the best deals possible for Nigeria.
“I hope that we should be able to build in futuristic growth patterns in the new deal. We should be able to come up with companies that have solid investments in Nigeria because this is not just a trading issue,” he said.
Also speaking at the ceremony, Mrs. Esther Nnamdi-Ogbue, Managing Director of the Products and Pipeline marketing Company, PPMC, stated that the essence of the exercise is to provide a level playing field for all industry players and to cut-off middle men who have been exploiting the system.
She disclosed that companies that stand a better chance of winning the contracts are those who have refineries, affiliations to refineries or access to refineries.
She stated that the NNPC, through this arrangement, plans to eliminate third party, adding that the companies would be expected to show agreements that have been signed with refineries.

www.vanguardngr.com/D6yeo

Oboy ur source is incomplete. update am plz

lygn19:
its about time

Long overdue sef...

It was never done for the good of the common man, it was just patronage for cronies & political associates..



Cc: passingshot , omenka, midolian, beremx, egift, sammyj, laudate, seunmsg , gbawe , Ngenekwenu, balloski, rawani, sandraokosun ,MayorofLagos, Aareonakakanfo , zimoni et al

Some people will wish Buhari dead.!!! They will die instead.......

Nigeria shall be great again.

Top civil servants are already cursing...

Oil thieves are already cursing ..

PDP have been cursing and will die cursing....

Even MTN is cursing now.

What of NL politics section...kiddies/papa wing...? They are cursing.....

What of Almighty NL Biafran e-militia? Wailing + Cursing

A NEW SHERIFF IN TOWN


All their curses. ..BACK TO SENDER!!!!

Buhari to lead Nigeria to greater heights. .

modath:
Some hitherto "I'm into oil & gas " , & overnight rich people with no antecedents going to know how far....

Now no more portfolio companies fleecing the nation..

Now the GOATS are going to pile on more criticism for PMB but ain't nobody gat time for that..


PMB & IBE KACHIKWU, make una carry go,

As in... Very on point, overnight wealth indeed. As in I know some guys that went from two decent cars four/five years ago to about 10+ luxury cars in that period. With the properties in the most expensive places in Nigeria and London. I thought this was the "Nigerian dream", I too fantasized about it, not knowing some of these guys were basically stealing and destroying other's dreams

Kachikwu is working. Baba should just leave this man double as both GMD and minister of petroleum. Nigerians would have seen wonders. Especially concerning things they told us will never work.

God will continue to bless Buhari and Ibe.ALSO GOD BLESS THE CITIZEN OF REPUBLIC OF NIGERIA.

Baba Buhari and Bobo Kachikwu God bless una two.

After some wailing miscreants will be crying for nothing. God bless Nigeria. Ride on Mr. President.

God bless our able President...When he eventually leaves power, he will be called a hero for changing the fortunes of this country not for destroying the country, losing an election and bowing out in fear and shame.

Only those with irreparably abused minds and perpetually sore losers would NEVER see the good intentions and deeds of this gentleman for our common good.

My faith in this man remains unwavering as he methodically performs the much needed surgical procedure on this patient that was rushed into the ER on May 29th.

May God continue to direct your hands sir. Slowly but surely, we are on the path towards a full recovery.

God bless Nigeria.

Keneking:
Lalasticlala.......great move

- This is a shock to those 44 companies.

- Nigerians would enjoy low and fluctuating costs of PMS, DPK and AGO moving forward.

- We should expect PMS prices to be as low as N40-N45/litre.

- Nigeria would be free from subsidy payments and we can channel the funds for other developmental purposes.

- Chai, more middlemen in oil business to lose their jobs.

- Rich men would soon understand the impact of this decision by December and January.

- Stealing and corruption in that sector would reduce by more than 70%.

- Ibe Kachikwu would be missed as the key that reformed NNPC.

- God Bless PMB

Expect the cries of secession to increase three folds. These are the people sponsoring all that nonsense in the hope of distracting the government and ultimately crystalising chaos which would ensure they keep making abominable profits at the expense of the common man. They see Baba as a threat to their control of the levers of our polity/economy and would do anything, regardless of its propriety, to ensure they perpetually lord it over us.

Toss a few change here and there they would, and the same people we saw yelling GEJ till thy Kingdom come would be the ones shouting Biafra!!

#OnlyTimeWillTell.

Ok o, we da look

modath:
Some hitherto "I'm into oil & gas " , & overnight rich people with no antecedents going to know how far....

Now no more portfolio companies fleecing the nation..

Now the GOATS are going to pile on more criticism for PMB but ain't nobody gat time for that..


PMB & IBE KACHIKWU, make una carry go,

Yes, because now they are being forced to eat grass which was what God in his infinite wisdom designed they to eat from creation. But somewhere along the line, the natural course of event was changed, the door to the barn was left wide open, and our Goats all became Ajebo Goats that fed exclusively on Yams and lost the appetite for grass. I expect some initial resistance as they are forced out of the Barns into the fields to feed on their natural staple, but of course we know it would all be in futility- they only run the risk of starvation should they insist on Yams.

Gbam!.... Glory be to God! .. The era of middlemen gradually coming to an end. Who says things can't get better?... It was never rocket science, just that the people ontop were never willing to sacrifice the largesse they usually got from these fraudulent transactions.

I can see everything turning around !

Good for them
All those stewpid semi literate Hausas......
Life is a game and its not fair
Check the middlemen- they are fronting for many Hausas
If oil were to be in the north I'm sure the aggressive illiterates would have seceded long ago!

Just do what works and see Nigerians rally around you. You don't just lie to them.

modath:
Some hitherto "I'm into oil & gas " , & overnight rich people with no antecedents going to know how far....

Now no more portfolio companies fleecing the nation..

Now the GOATS are going to pile on more criticism for PMB but ain't nobody gat time for that..


PMB & IBE KACHIKWU, make una carry go,

come to me my dear modath

Konji egbugo m ebea

ha ha ha
some fools still expect some fat, greedy, incompetent, gray haired, pot-bellied, aristo, runs-girls carrying, lazy government bureucrats to deliver goods to them at the best price possible!
ha ha ha
hunger wan finish some peopleand they are clapping hailing hunger ni.

https://www.youtube.com/watch?v=dcOFEoqehaA

[size=15pt]NNPC Opens Bids For The Sale Of Nigeria Crude Oil[/size]

They marketed on falsehood, they rebranded a failing state, they patched a collapsing economy, they looted our treasury like a one-man business, they said stealing 'wasn't' corruption, they ran the nation on auto pilot, impunity was the best word associated with them, ......... How would a sane mind accuse this administration of not working?


we cried for better tomorrow under their inhumane administration but today we pray for quick recovery cuz we are suffering from the decayed-yesterday

May you never rise again all ye SPOILERS

Brilliant.

No more middlemen.

A welcom development. Hope Nnpc would be a able to carry the burden thru thick n soft.

Nice move Kachukwu.

Omenka n oreke Modath u r both highly munched

This is good news from Buhari's Government.
The best news so far