The Chief Corporate Communications Officer of NNPCL, Olufemi Soneye, recently disclosed that the contract for the sale of crude oil in Naira to Dangote Refinery was structured as a six-month agreement, subject to availability, and expires at the end of March 2025.
Soneye stated thus:
“Discussions are currently ongoing towards a new contract.
NNPCL has made over 48 million barrels of crude oil available to Dangote Refinery since October 2024 under this arrangement.
NNPCL has made over 84 million barrels of crude oil available to the Refinery since its commencement of operations in 2023. NNPCL remains committed to supplying crude oil for local refining based on mutually agreed terms and conditions.”