Nigeria’s State-owned Oil Company Releases Second Audited Report in 43 Years, Cuts Losses by 99.7%

The Nigerian National Petroleum Corporation (NNPC) has picked 16 consortia for its new crude-for-fuel swap contracts for one year starting in August.

A report on Wednesday by Reuters listed the consortia to include major Swiss trading firms, Trafigura, Vitol and Mercuria, oil major Total as well as large Nigerian traders, Sahara Energy, Oando and MRS Oil.

Other companies which qualified for the contracts, according to a list sighted by THISDAY include: AY Mai Kifi, based in Kano; Litasco, a South African firm; Bono Energy, Lagos; Duke Oil, an NNPC subsidiary; Eyrie Energy, based in Abuja; Asian Energy Services; Prudent; BP and Mocoh