The Nigerian National Petroleum Corporation (NNPC) has selected 26 foreign and local firms including twelve (12) countries to lift the country’s crude oil for the twenty-four months.

The crude term pacts, expected to run from this year through 2023, would see the firms and the selected nations, which would operate on a Government-to-Government (G2G) basis to purchase the commodity from the national oil company.

The deal is coming less than a week after the corporation chose 16 oil and gas consortia for its new crude-for-fuel swap contracts for one year starting in August.

The contracts, known as Direct Sale, Direct Purchase (DSDP) are high-stakes agreements used to supply nearly all of Nigeria’s petrol needs as well as cover some of its diesel and jet fuel consumption.