The Nigerian National Petroleum Company Limited (NNPC Ltd.) has clarified that its contract with Dangote Refinery for the sale of crude oil in Naira was for just six months and will expire at the end of March 2025.
According to Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd., the contract was subject to availability and is currently being renegotiated.
NNPC Ltd. has supplied over 48 million barrels of crude oil to Dangote Refinery since October 2024, and a total of 84 million barrels since the refinery began operations in 2023.
The clarification comes amidst recent social media reports alleging that NNPC Ltd. had unilaterally terminated the crude oil sales agreement with Dangote Refinery.
However, Soneye assured that discussions are ongoing to establish a new contract.
“NNPC Limited remains committed to supplying crude oil for local refining based on mutually agreed terms and conditions,” he said.
Source: https://energynewsafrica.com
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