NNPC Ltd in Talks to Extend Crude Oil Supply Deal with Dangote Refinery
After the initial sixmonth agreement expired this month, Nigerias state oil company, NNPC Ltd, is negotiating with Dangote Oil Refinery to renew its c
After the initial sixmonth agreement expired this month, Nigerias state oil company, NNPC Ltd, is negotiating with Dangote Oil Refinery to renew its crude oil delivery contract in naira. The agreement, which was unveiled in October, was designed to alleviate local refineries supply limitations. Although the agreedupon volumes were not entirely fulfilled and smaller refineries did not profit as anticipated, NNPC Ltd. supplied 48 million barrels to Dangote Refinery per the terms of the agreement. Specifics on cost, volume, and duration are still being worked out. In line with more significant economic and energy sector objectives, the extension might support domestic refining operations and lessen Nigerias reliance on imported fuel.
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B2B Tech News | 1 months ago