Categories: OIL & GAS

NNPCL Clarifies Naira Crude Contract With Dangote Refinery

<h4>NNPCL Clarifies Naira Crude Contract<&sol;h4>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;<p><strong><a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">OpenLife Nigeria<&sol;a><&sol;strong> reports that Nigerian National Petroleum Company Ltd&comma; NNPCL&comma; has noted recent reports circulating on social media regarding the alleged unilateral termination of the crude oil sales agreement in Naira between NNPC Ltd&period; and Dangote Refinery&period;<&sol;p>&NewLine;<p>In a statement signed bb Olufemi Soneye&comma;<br &sol;>&NewLine;Chief Corporate Communications Officer&comma;<br &sol;>&NewLine;NNPC Ltd&comma; the company clarified that the contract for the sale of crude oil in Naira was structured as a six-month agreement&comma; subject to availability&comma; and expires at the end of March 2025&period;<&sol;p>&NewLine;<p>Discussions are currently ongoing towards emplacing a new contract&period;<&sol;p>&NewLine;<p>Under this arrangement&comma; NNPC Ltd&period; has made over 48 million barrels of crude oil available to Dangote Refinery since October 2024&period; In aggregate&comma; NNPC Ltd&period; has made over 84 million barrels of crude oil available to the Refinery since its commencement of operations in 2023&period;<&sol;p>&NewLine;<p>NNPC Limited remains committed to supplying crude oil for local refining based on mutually agreed terms and conditions&period;<&sol;p>&NewLine;

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