Some marketers involved in the recently introduced Direct-Sale-Direct-Purchase, DSDP, crude oil swap arrangement by the NNPC say the scheme is worse in terms of transparency than the crude oil swap arrangement that obtained during the Goodluck Jonathan administration. The companies include Oando, Sahara Energy, MRS Oil & Gas, AA Rano, Bono, Masters Energy, Eterna Oil and Gas, Cassiva Energy, Hyde Energy and Brittania U. Others were North-West Petroleum, Optima Energy, AMG Petroenergy, Arkiren Oil and Gas Limited, Shoreline Limited, Entourage Oil, Setana Energy and Prudent Energy. The DSDP involves these firms bidding for the NNPC's daily allocation of 445,000 barrels of crude oil originally meant for local refining. "The DSDP scheme is a volume business," Mr. Kyari explained.

Source: The North Africa Journal May 11, 2017 06:00 UTC