PMB awards oil block contracts to Tinubu, 38 others

President Buhari is the minister of Petroleum. Dr. Ibe Kachikwu is his deputy, while Maikanti Baru is the NNPC boss.

The PDP had said one of the reasons APC campaigned hard in the last elections was so that GEJ would not revoke some oil licenses.

Well, those contracts have been renewed and shared amongst the top echelon of the bourgeoisie.

Well, the Ministers of Petroleum, PMB and Kachikwu, and the NNPC have finally approved some oil licenses.

Off course, Tinubu and T.Y. Danjuma made the list.

Read Also: Buhari cries out as $12.9 billion dollars disappears from NNPC

The NNPC on Wednesday released names of 39 bidders for the sale and purchase of Nigerian crude for 2017/2018.

Announcing the results on the oil moguls, NNPC said the oil contract would run for one year effective from Jan. 1.

The list comprises 39 winners with 18 Nigerian companies and 11 International Traders.

Also, 5 foreign refineries, three National Oil Companies (NOCs) and two NNPC trading arms, are part of the deals.

Read Also: EXCLUSIVE: Presidency to investigate NNPC’s boss for fraud?

All the contracts were for 32,000 barrels per day except Duke Oil Ltd, which shall be for 90,000 barrels per day.

In essence, the oil companies will make over N17 billion naira every month. Duke Oil will make about 3 times that value.

During the bid opening, Maikanti Baru had assured the public that NNPC would ensure transparency and fairness in the selection process.

A total of 224 bids were submitted by companies seeking to purchase and lift Nigerian crude oil grades from Nigeria.

Read Also: We have no proof of Deziani’s corruption – Presidency

The indigenous beneficiaries are Oando, Sahara Energy, MRS Oil and Gas, AA Rano, Bono, and Masters Energy.

The list continues: Eterna Oil and Gas, Cassiva Energy, Hyde Energy and Brittania U., NorthWest Petroleum and Optima.

Others are AMG Petroenergy, Arkiren Oil and Gas Limited, Shoreline Limited, Entourage Oil, Setana Energy and Prudent Energy.

The international beneficiaries are Trafigura, ENOC Trading, BP Trading, TOTAL Trading, UCL Petroenergy, Mocho, Tevier Petroleum, Heritage Oil, Levene Energy, Glencore and Latasco Supply and Trading.

Read Also: Presidency finally opens up on Southern Kaduna

The five foreign refineries are Hindustan Refinery, Varo Energy, Sonara Refinery, Bharat Petroleum and Cepsa.

The NOCs are India Oil Company, China (Sinopec) and South Africa (Saccoil).

The NNPC trading arms are Duke Energy and the Carlson Hyson.