Nigerian National Petroleum Corp. (NNPC) has invited bids for one-year term contracts to lift the government's equity crude for 2013-14 -- to take effect with cargoes loading from Aug. 1, 2013. The formal invitation restricts the bids to "bona fide" end-users with refineries or retail outlets, established international traders, or indigenous Nigerian companies engaged in Nigeria's oil and gas business. The invitation requires applicants to have a minimum turnover of $500 million, a net worth of at least $100 million, and three years of audited accounts, the invitation states.
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