Florence Sadiku
THE Nigerian National Petroleum Company Limited (NNPCLtd) has confirmed the termination of the crude oil sales agreement in Naira between it and Dangote Petroleum Refinery, pointing out it was structured as a six-month agreement, subject to availability, and expires at the end of March 2025.
The company’s Chief Corporate Communications Officer, Olufemi Soneye, in a statement, says discussions are currently ongoing towards emplacing a new contract.
“Under this arrangement, NNPC Ltd. has made over 48 million barrels of crude oil available to Dangote Refinery since October 2024. In aggregate, NNPC Ltd. 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”,
Eighteen-Eleven Media