By Peter Adelowo
The Nigerian National Petroleum Company Limited, NNPCL, has reacted to recent reports circulating on social media regarding the alleged unilateral termination of the crude oil sales agreement in Naira between with Dangote Refinery.
This is contained in a statement signed by the Chief Corporate Communications Officer of the NNPCL, Olufemi Soneye in Abuja.
It says the crude oil sales agreement with the Dangote Refinery will expire at the end of March, 2025.
The statement explains that the contract for the sale of crude oil in Naira was structured as a six-month agreement, subject to availability.
According to the statement discussions are currently ongoing towards emplacing a new contract.
“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.”
