*As discussions on new contract ongoing
WorldStage Newsonline– NNPC Limited has reacted to reports regarding the alleged unilateral termination of the crude oil sales agreement in Naira between NNPC and Dangote Refinery, saying 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.
A statement by Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd said “Discussions are currently ongoing towards emplacing a new contract.”
The statement said under this arrangement, NNPC had 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,” it said.
“NNPC Limited remains committed to supplying crude oil for local refining based on mutually agreed terms and conditions.”
