NNPC has issued its 2019-2020 crude-for-product swap tender, the state-owned oil company said on Wednesday.
The Direct Sale Direct Purchase (DSDP) tender document did not specify the start date or the quantities involved, but said the arrangement would be for one year.
The tender is set to close on May 2 at noon local time, NNPC said on its official Twitter account.
Crude-for-product swap contracts are the country’s main avenue to meet the bulk of its gasoline and diesel needs.
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Nigerian 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.
The crude-for-product swaps were extended until June, sources familiar with the matter said last year.
