The Nigerian National Petroleum Company (NNPC) Limited has issued a statement to debunk recent reports circulating on social media regarding the alleged unilateral termination of the crude oil sales agreement in Naira between NNPC and Dangote Refinery.
According to the statement , the contract for the sale of crude oil in Naira was structured as a six-month agreement, subject to availability, and expires at the end of March 2025. Discussions are currently ongoing towards emplacing a new contract.
Under this arrangement, NNPC says it has made over 48 million barrels of crude oil available to Dangote Refinery since October 2024. In aggregate, it has also made over 84 million barrels of crude oil available to the Refinery since its commencement of operations in 2023.
MUST READ:NNPC Shipping, Other companies launch new maritime transportation venture
The statement, issued on Monday by the Chief Corporate Communications Officer of NNPC Limited, Olufemi Soneye emphasized that NNPC remains committed to supplying crude oil for local refining based on mutually agreed terms and conditions.
NNPC’s clarification comes amidst reports of speculation and misinformation regarding the company’s agreements with domestic refiners.
(Editor: Paul Akhagbemhe)
