10, March 2025
Thank you for reading this post, don't forget to subscribe!NNPC Limited yesterday disclosed that it has supplied 48 million barrels of crude oil to Dangote Refinery under the crude for Naira agreement facilitated by the Federal Government last year.
The company, in a statement by its Chief Corporate Officer, Mr. Olufemi Soneye said the crude for Naira deal was a six-month supply agreement.
NNPC, which denied that it had unilaterally terminated the contract, stated that both companies were in discussion for a new contract.
“To clarify, the contract for 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. Discussions are currently ongoing towards implementing 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.
“NNPC Limited remains committed to supplying crude oil for local refining based on mutually agreed terms and conditions”, Soneye said.
(www.naija247news.com)
