NNPC Limited has provided clarification on the recent reports circulating on social media regarding the alleged unilateral termination of the crude oil sales agreement in Naira between NNPC and Dangote Refinery.
A statement obtained by NewsBreakNaija, which was signed by its Chief Corporate Communications Officer, Olufemi Soneye, indicated that 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.
Soneye, in the statement, added that “Discussions are currently ongoing towards emplacing a new contract.”
According to him, under this arrangement, NNPC has made over 48 million barrels of crude oil available to Dangote Refinery since October 2024.
“In aggregate, NNPC has made over 84 million barrels of crude oil available to the Refinery since
its commencement of operations in 2023.
“NNPC Limited remains committed to supplying crude oil for local refining based on mutually agreed terms and conditions,” the statement said. (NewsBreakNaija)
