The Nigerian National Petroleum Corporation, NNPC, has opened bids from 128 companies that indicated interest for 2017 Direct Sale Direct Purchase (DSDP) or crude/product swap which it projects to involve about 800,000 barrel per day (bpd).
Group Managing Director (GMD), Maikanti Baru, who declared the bids opened in Abuja stated that primary consideration of the bid was to ensure that Nigerians are not left out of the exercise.
“The major drive here is to ensure that Nigerians are not left out. And we make sure by ensuring that those that emerge whether it is consortium or single must have physical presence in Nigeria,” Baru said.
“That means that they must have some depots or retail outlets as a minimum or they must be involved with exploration and production in crude oil. So we ensure that most of the proceeds are domesticated in Nigeria.”
Baru also revealed that the corporation has now learnt from the operation of the DSDP to avoid previous pitfalls were bid winners could not meet their link date by now guarding against every dislocation in the system.
He said that the DSDP has since its inception helped greatly in the stabilization of product supply to the nation.
