THE Nigerian National Petroleum Company Limited, NNPCL, said it has ended the supply of oil to Dangote, other refineries under the federal government’s Naira for Crude programme.
However, the company said it remains committed to providing crude oil to the 650,000 barrels per day, bpd refinery.
NNPCL said the contract for the sale of crude oil in Naira was structured to expire in March 2025, adding that discussions were ongoing toward ensuring continuous supply to refiners.
Chief Corporate Communications Officer, NNPCL, Olufemi Soneye, who disclosed this in a statement – Clarification on the Naira Crude Contract Between NNPC Limited and Dangote Refinery – yesterday, stated: “NNPC Limited has noted recent reports circulating on social media regarding the alleged unilateral termination of the crude oil sales agreement in Naira between NNPC and Dangote Refinery.
“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 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, 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.”
SOURCE : VANGUARD
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