* The NNPC is set to award crude oil lifting contracts for 2017
* Firms from the Niger Delta region have been tipped to get some of the contracts
* This is sequel to the meeting the president had with leaders from the region
The Nigerian National Petroleum Corporation (NNPC) unveils bids for the contract award and Nigerian companies especially from the Niger Delta region will be awarded contract to lift crude oil in 2017.
This is coming a few weeks after President Muhammadu Buhari’s meeting with Niger Delta leaders led by Chief Edwin Clark in Abuja where he was presented with a 16-point request that will put an end to militancy.
Daily Trust reports that that the plan to award Niger Delta firms the contracts was a testament to the president’s decision to respond to the region’s demand for oil blocs.
There are currently 27 companies holding the 2016 crude lifting contracts including both local and foreign companies with NNPC deciding to award fewer contracts for 2017.
Indigenous oil traders like Sahara Energy, Oando and MRS who are current contract holders are expected to be re-awarded the 2017 oil contract.
Nigeria produces about 2.2 million barrels of crude and the contract involves the export of 1 million per day.
The crude is then sold by contract holders to end-users, refiners and other buyers.
Meanwhile, the Black Devils, one of the Niger Delta