“Under the DSDP arrangement, the under listed fifteen consortia/companies shall over the contract period, offtake crude oil and in return, deliver corresponding petroleum products of equivalent value to NNPC, subject to the terms of the agreement," said a statement by NNPC's spokesman, Ndu Ughamadu.2. VITOL SA/CALSON-HYSON4. GUNVOR INTERNATIONAL B.V./AY MAIKIFI OIL & GAS CO. LTD.8. LITASCO SA/BRITTANIA-U NIG. LTD./FREEPOINT COMMODITIES11. BONO ENERGY LTD.
The corporation said the tender process comprised of technical and commercial bid submission, as well as evaluation and shortlisting. This was followed by commercial negotiations with prequalified companies and the subsequent engagement of the successful consortia/companies by NNPC. The Buhari administration did away with the shady offshore processing agreement or oil – swap – deal in August 2015, in favour of the direct sale – direct purchase agreement used presently. Between 2010 and 2014, media reports say the country lost petroleum products in excess of $35 billion, with Diezani Alison-Madueke, ex-Minister of Petroleum Resources said to be the overseer of the scheme.