NIGERIAN NATIONAL PETROLEUM CORPORATION
NNPC Towers, Herbert Macaulay Way, Central Business District,
P.M.B. 190, Garki, Abuja – Nigeria.
INVITATION FOR CRUDE OIL TERM CONTRACT APPLICATION
The Nigerian National Petroleum Corporation wishes to invite interested companies to apply for lifting of Nigerian Crude Oil for the period starting 1st January to 31st December 2011
Who May Apply
(a) A bona fide end user who owns a refinery and retail outlets abroad. Details of the applicant’s facilities, markets and volume of crude oil processed ever the last three years must accompany the application.
(b) An established and globally recognized target volume trader, Such applicant must provide evidence of its global network, its activities and volumes of crude oil handled in the last three years
(c) A Nigerian registered company with operations in Nigerian Oil and Gas industry
Other Conditions
D1. Applicants must have a minimum annual turnover of US$ 500 million and net worth of not less than US$ 100 million.
D2. Applicants must show commitment to the development of the Nigerian economy by investing in any number of investment opportunities that abound either in the oil industry or other sectors or, as an alternative. In the short run meaningful and sizeable investment in community development project(s) in the oil producing areas as may be acceptable. Investment areas include:
a) Evidence of the applicants readiness to comply with government’s local content policy in the oil and gas industry:
b) Upstream investments – to increase national oil reserves and production capacity.
c) Downstream projects in refining, petrochemicals, distribution and storage of petroleum products
d) Gas Utilisation projects;
e) Independent Power Plant Projects (IPP)
f) Agriculture
g) Railway construction
h) Solid Mineral development
i) Health sector development and
j) Real Estate development
k) And any other areas of the economy acceptable to the SELLER
D3. Successful companies in (A) and (B) above will in addition to the regular crude oil term contract provisions be required to make a direct payment of US$2.5 million deposit to a specified account through a first class bank. This deposit will be part payment for the first cargo to be lifted.
E. MODALITIES
- Shortlist of applicants for consideration for crude oil term contract allocation will be contingent on successful due diligence reports. Such reports must confirm status claimed by applicant with respect to (A), (B); and D above.
- Crude oil lifting shall be on the basis of a confirmed irrevocable Letter of Credit only and
- Where possible, the Nigerian National Petroleum Corporation shall endeavor to maintain regional balance in the distribution of Nigerian crude oil term contract holdings to the following regions:
- North and South America
- Western Europe/Mediterranean
- Eastern Europe
- Asia
- Africa
Method of Application
Interested companies should forward two (2) sets of their applications accompanied with three (3) years audited accounts and detail information on company business activities; facilities, major markets, volume of crude oil traded over the past three years and any other relevant information/data in sealed envelopes to the following address, on or before 4.00 pm on 22nd October 2010.
The Group Managing Director
Nigerian National Petroleum Corporation,
NNPC Towers
Herbert Macaulay Way
Central area, Abuja.
Signed;
Management
