In a recent statement, NNPC Limited has sought to clarify ongoing discussions regarding its crude oil sales agreement with Dangote Refinery, amidst circulating reports on social media suggesting a unilateral termination of the contract.
The agreement, structured as a six-month deal and contingent upon availability, is set to expire at the end of March 2025. NNPC Limited emphasized that discussions are currently underway to establish a new contract that will continue to support local refining efforts.
Since the inception of this agreement in October 2024, NNPC Limited has successfully supplied over 48 million barrels of crude oil to Dangote Refinery. In total, the company has provided an impressive 84 million barrels of crude oil to the refinery since its operations commenced in 2023.
The organization reiterated its commitment to ensuring a steady supply of crude oil for local refining, operating under mutually agreed terms and conditions. NNPC Limited also assured stakeholders that it is actively engaged in dialogue to address any concerns and maintain a transparent relationship with its partners.
Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd., stated, “We are dedicated to fostering a collaborative environment with our partners to enhance local refining capabilities and contribute to the nation’s energy security.”
As NNPC Limited continues to navigate these negotiations, stakeholders and the public are encouraged to rely on official communications to stay informed.
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