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NIGERIAN
NATIONAL PETROLEUM CORPORATION
GUIDELINES FOR LIFTING OF NIGERIAN CRUDE OIL
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 volumes of crude
oil processed over the last three years must accompany the
application.
(B)
An established and globally recognised large volume trader.
such applicants must provide evidence of its global network,
its activities and volumes of crude oil handled in the last
3 years.
(C) A company
that has built an export oil refinery in Nigeria.
OTHER
CONDITIONS
1
A Company must have a minimum annual turnover of at least
$100 Million and a Net worth of not less than $40
million.
2
Successful applicants must show commitment to the
development of the Nigerian Economy by investing in a
number of investment opportunities that abound either
in the oil industry or other sectors or as an an
alternative, in the short run ,meaningful and sizable
investment in community development projects in the
oil producing areas as may be acceptable . Investment
areas include.
-
Upstream
investments-to increase our oil reserves and production
capacity.
-
Downstream
projects in refining ,processing ,distribution and
storage of petroleum products.
-
Gas
utilization Projects
-
Industries
with foreign exchange earning potential
(Any other areas
of the economy acceptable to the SELLER)
3
Successful companies
in (A), (B) above will be required to post a $1million
performance bond through a first class Nigerian Bank
in addition to the regular crude oil contract
provisions. The $1Million bond shall be cashed if
after six months of the signing of the crude oil
contract , the investment has not been made or there
is no evidence of a commitment to do so . In addition
to the forfeiture of the bond oil contract will
automatically terminate.
MODALITIES
(i)
Shortlist of applicants for consideration for crude oil
contract allocation will be drawn on the basis of successful
economic intelligence reports .Such reports must confirm
status claimed by the applicant with respect to (A) , (B) ,
and 1 in
OTHER
CONDITIONS above .
(ii)
Crude oil lifting shall be on the basis of a confirmed
irrevocable letter of credit only.
The letter of
credit shall be in the name of holder and
(iii)
where possible , government shall endeavor to maintain
regional balance in the
distribution of Nigerian crude oil contract holdings .For
the purpose of this factor, regions shall be divided into:-
METHOD OF
APPLICATION
Interested
companies should submit their applications
accompanied with their last 3years audited Accounts
and other company information to include date of
establishment , company activities facilities ,major markets
volume traded over the last3 years, number of employee and
company's objectives and any other relevant data in sealed
envelop and to reach
Group
Managing Director
Nigerian
National Petroleum Corporation ,
NNPC Towers
Herbert
Macaulay way
Central area
Abuja
Nigeria
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