• National News,  Oil & Gas

    The Identities of 132 Firms Bidding For NNPC’s Crude Oil Swap

    The NNPC, Nigeria’s state owned oil giant has announced that 132 companies had submitted bids for the 2019 crude for refined products programme tagged Direct Sale, Direct Purchase (DSDP). The bidders, according to a list exclusively obtained include Trafigura and Mercuria, the international trading companies that have featured prominently in the crude for product swap regime but have paid zero taxes to the Nigerian state, neither do they employ Nigerians nor do they have operations anywhere in the country. Nigeria mostly relies on importation of fuel for local consumption because its refineries are moribund. Local companies like Oando, Sahara and MRS have over the years developed their operations and capacity…