The Nigerian National Petroleum Company Limited (NNPC Ltd.) says its contract with Dangote Refinery for the sale of crude oil in Naira was structured as a six-month agreement.
NNPC stated this while reacting to media reports of the alleged unilateral termination of the crude oil sales agreement in Naira with Dangote Refinery.
The Chief Corporate Communications Officer, NNPC Ltd., Olufemi Soneye, in a statement said the six months agreement was subject to availability, and expires at ending of March 2025.
He said discussions were 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, the 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,” he said.
