The Nigerian National Petroleum Corporation (NNPC) has issued its 2019-2020 crude-for-product swap tender.
In a post on its Twitter handle on Wednesday, NNPC said the tender will close at 12 noon on May 2.
Crude-for-product swap contracts are Nigeria’s main avenue to meet the bulk of its petrol and diesel needs after the collapse of its refineries.
Although the Direct Sale Direct Purchase (DSDP) tender document did not stipulate the commencement date or quantities involved, the arrangement would be for one year.
The country’s refineries have a capacity of about 445,000 barrels per day but have underperformed for years, making Africa’s biggest oil producer almost wholly dependent on imports.