Nigeria to begin direct oil sale, will eliminate middlemen - NNPC

The management of Nigeria's oil corporation (NNPC) has announced on Wednesday plans to begin direct sales of oil and other petroleum products to eliminate the use of middlemen in the supply chain of petroleum products.

''Following the outcome of the technical evaluation for the 101 tenders submitted in respect of the Offshore Processing Arrangement by PPMC, ''NNPC Group said Wednesday on its Twitter handle. ''The GMD, in a bid to ensure maximum benefit to the federation and eliminate middlemen has directed that the OPA be replaced by a more transparent & effective arrangement of Direct Sale of crude by NNPC & Direct Purchase of products from credible International refineries. Only the bonafide owners of Refineries identified in the ongoing OPA tender evaluation process will be further engaged. The identified refineries will be subjected to due diligence and analysis by NNPC's appointed consultants in line with best practices. Consequently the call for commercial bids issued to the 44 shortlisted bidders is hereby withdrawn.''