REQUIREMENTS FOR MARKETING CRUDE OIL

Those who wish to buy and sell Nigerian crude oil must demonstrate their commitment to the oil industry through allocation of adequate resources of capital, equipment and manpower to the general business of prospecting, exploration and production of crude oil.

Those eligible to apply

An upstream investor who has acquired an oil prospecting license and must have completed a minimum amount of work on the concession

WHO MAY APPLY FOR CRUDE OIL LICENSE

1. Local Refineries
2. International Refineries
3. Internationally recognized Oil & Gas traders

WHO MAY PURCHASE NIGERIAN CRUDE OIL

A bonafide end user who owns a refinery and sales outlet.
An established and globally recognised large volume trader proof of its global network, its operations and volumes of crude oil handled in the last three years.

Other Conditions

All applicants must have a minimum annual turnover of at least $100million and net worth of not less than $40 million.
Successful applicants must show commitment to the development of the Nigerian economy by investing any number of opportunities that abound either in the oil industry or gas sector.

Successful companies will be required to post a $1 million performance bond through a first class Nigerian bank in addition to the regular crude oil contract provisions.

OIL FRAUDS

The Nigerian National Petroleum Corporation (NNPC) views with dismay and is constrained yet again to raise the alarm over the renewed spate of attempts by fraudsters to defraud some individuals and organizations through bogus lifting/importation of Nigerian crude/products.

The recent disingenuous efforts have included the forging of shipping documents and the impersonation of top NNPC officials by unscrupulous individuals who parade themselves as either agents or officials of NNPC and have reportedly extorted huge sums of money from unwary Nigerians and foreigners alike for dubious crude oil allocation papers.

The NNPC wishes to state categorically that it neither sells its crude oil through agents nor does it carry out any spot sales. It further wishes to emphasize that there is absolutely nothing like “Presidential”, “Task Force”, “Ministerial”, “Diplomatic” or any other form of special or privileged allocation, which can be peddled by hawkers or anyone. The NNPC has not given any mandate to any person or persons to negotiate the sale of Nigerian Crude oil on its behalf.

The general public is therefore hereby alerted and warned against having any dealings with these “agents” or “officials” or anyone claiming to have access to special allocation. Anybody who is therefore duped through any of these bogus schemes should have himself or herself to blame.
NNPC is working with the Economic and Financial Crimes Commission (EFCC) to track down such fraudsters.

ENQUIRIES:

The Group General Manager
Crude Oil Marketing Division,
NNPC Towers, Herbert Macauley Way,
Business District, Garki, Abuja.
Telephone: +234 9 234 8237
Fax: +234 9 413 0198

The General Manager
NNPC London Office
Tel: +44 20 8735 9600
Fax: +44 20 8748 1015