The gale of transparency in the operations of the Nigerian National Petroleum Corporation (NNPC) was sustained on Thursday with the public opening of 224 bids submitted by companies seeking to purchase and lift Nigerian crude oil grades for the period 2016/2017.

Successful companies will participate in the lifting of about 700, 000 barrels per day of crude oil on offer by the NNPC on Free on Board (FOB) basis subject to the execution of sales and purchase agreement with buyers.

The event which was broadcast live on a national television network had in attendance representatives of the bidding companies and officials of the Bureau of Public Procurement, BPP, Department of Petroleum Resources, DPR, Nigerian Extractive Industries Transparency Initiative, NEITI, Nigerian Content Development and Monitoring Board, NCDMB, and some members of the civil society as observers.

Speaking at the event, Group Managing Director of the NNPC, Dr. Maikanti Baru, said that the public bid opening was in consonance with the transparency and accountability agenda of Mr. President in the oil and gas industry.

''We do everything transparently in NNPC and also ensure fairness in all the transactions that we do; there is nothing that is hidden just as you have seen today,” Baru stated.

He indicated that the exercise was targeted at getting competitive bids from refiners, and also big traders, as well as companies that have made substantial investment in the oil and gas industry particularly in the downstream sub-sector in Nigeria.

The GMD dismissed insinuation that Nigerian crude grades were receiving low patronage in the international market noting that the demand for Nigerian crude remained high because of its low sulphur content.

The 26 Nigerian crude oil grades on offer include: Bonny Light, Forcados Blend, EA Blend, Bonga, Qua Iboe Light, Yoho Blend, Erha and Escravos Light. Others are: Pennington Light, Agbami, Brass Blend, Abo, Oyo, Okono Blend, Amenam Blend, Akpo Condensate and Usan. The rest include: Atam Blend, Okwori, Okoro, Ima, Ukpokiti, Obe, Okwuibome, Ebok and Asaratoru

GossipHeart:


I wish Nigeria would be colonized again

Our so called old head leaders are running this country to the ground

Obasanjo sold Phcn and Coca cola

Obasanjo handed over a very oil rich Bakassi peninsula to the Cameroonian government for free

Buhari wants to sell 224 oil firms to white men (our only source of income) they want us to be slaves in our own land while their kids are in USA and UK swallowing our money

I wish Nigeria would be colonized again so we can be sensible enough to allow our young youths to start running the affairs of this country instead of having a 90 year old man who still lives in the past to run this amazing golden country

Ideasconsortium:
Bro Coca-Cola is a private coy just like Pepsi and as for the 224 firms the conditions were stringent and listed on nnpcgroup.com. They are not selling or buying oil wells, they are mere brokers selling to high end buyers and refineries. If you have all it takes to participate you can also.

tysontim:
Which one is Okoro Blend,?

GossipHeart:


I wish Nigeria would be colonized again

Our so called old head leaders are running this country to the ground

Obasanjo sold Phcn and Coca cola

Obasanjo handed over a very oil rich Bakassi peninsula to the Cameroonian government for free

Sometimes, i don't care if Nigerians are suffering or going into recession, why would a young man who suppose to be the future of this amazing country vote for an old man who is still stuck in the 1920's

Buhari wants to sell 224 oil firms to white men (our only source of income) they want us to be slaves in our own land while their kids are in USA and UK swallowing our money

I wish Nigeria would be colonized again so we can be sensible enough to allow our young youths to start running the affairs of this country instead of having a 90 year old man who still lives in the past to run this amazing golden country

Ideasconsortium:
Bro Coca-Cola is a private coy just like Pepsi and as for the 224 firms the conditions were stringent and listed on nnpcgroup.com. They are not selling or buying oil wells, they are mere brokers selling to high end buyers and refineries. If you have all it takes to participate you can also.

GossipHeart:


Coca cola is a private company ??

Let me not pull the trigger on you

Ideasconsortium:
Bro Coca-Cola is a private coy just like Pepsi and as for the 224 firms the conditions were stringent and listed on nnpcgroup.com. They are not selling or buying oil wells, they are mere brokers selling to high end buyers and refineries. If you have all it takes to participate you can also.

Next2Bezee:
''We do everything transparently in NNPC and also ensure fairness in all the transactions that we do; there is nothing that is hidden just as you have seen today,"

Do these guys know no shame? The corporation is just as corrupt and stupid as its government counterparts.

One day our country will be great again, we already have great people..just need to stop giving power to these old coots.

Now instead of some Nigerians to learn they are already singing #Atiku2019...another old coot. God will not let them sidetrack these country again.

petrelli07:

Bros pls... Wat uni did u attend? Is coca cola a govt owned enterprise?