…Agreement was for six months and ends in March 2025
The NNPC limited have come out to clarify recent reports circulating on social media which suggested the company had unilaterally terminated its crude oil sales agreement with Dangote Refinery.
According to the national oil company, the agreement for the sale of crude oil in Naira was structured as a six-month contract, subject to availability, and is set to expire at the end of March 2025.
The NNPC went on to disclose that discussions are currently underway to establish a new contract that aligns with both parties’ objectives.
The NNPC also revealed that since October 2024, the company has supplied over 48 million barrels of crude oil to Dangote Refinery under this arrangement. In total, more than 84 million barrels have been provided since the refinery began operations in 2023. This underscores NNPC’s commitment to ensuring local refineries receive adequate crude supply.
Reaffirming its dedication to energy security and industrial growth, NNPC Limited emphasized that it remains committed to supplying crude oil to local refiners under mutually agreed terms and conditions.
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