FG Adds to its List of Long-Term Oil Buyers  

The Federal Government has added Chinese and Indian state oil companies to an expanded list of those awarded contracts to buy its crude, re-issued after what trade sources said was intense lobbying by disappointed buyers.
The country expanded its list of long-term oil contracts to about $52 billion worth of crude, up from $40 billion in April, also awarding contracts to more local companies, according to a document seen by Reuters and corroborated by industry sources. Africa’s top oil producer, Nigeria will award around 482 million barrels of its oil for one year starting from June 2014. The bulk of these companies will receive about 30,000 barrels per day (bpd) during this period. The list now comprises 43 companies, up from 28 on the initial April list, and closer to the 50 contracts given out the last time the Nigerian National Petroleum Corporation (NNPC) issued them in 2012. 
Source: Reuters

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