Libya’s National Oil Corporation Denies Crude Oil Supply Talks with Nigerian Refineries

29th July 2024

Libya’s National Oil Corporation (NOC) has refuted claims that it is negotiating or has entered into talks to supply crude oil to any Nigerian refinery, including the Dangote refinery. The denial comes after reports surfaced suggesting that the Dangote refinery was in discussions with Libya for crude oil supply.

In a statement posted on its X (formerly Twitter) account on Sunday, the NOC clarified, “The National Oil Corporation denies that it has negotiated or entered into any talks regarding the supply of crude oil to an oil refinery in Nigeria.”

The statement, provided in Arabic and translated into English, also emphasized the NOC’s adherence to its contracts with international partners and its commitment to the legal mechanisms governing the sale of Libyan oil. It noted that pricing for raw materials is determined by a committee of experts and is subject to approval by the corporation and the Ministry of Oil and Gas.

The Dangote refinery, which has a capacity of 650,000 barrels per day, has been facing challenges with local crude supply since it began operations in January. Recent issues have included accusations from refinery officials that International Oil Companies are either refusing to supply crude or selling it at a premium.

In response to these difficulties, the Dangote Group has been importing feedstock from the United States and other sources. There were also recent allegations that the refinery might be reselling its crude to other traders.

Dangote’s spokesperson, Tony Chiejina, had earlier asserted that the refinery was sourcing crude from Libya and Angola, but the NOC’s statement contradicts this claim. “Outright falsehood. We are sourcing more crude from Angola and Libya. Also, our Crude Distillation Unit is functioning perfectly well. You may wish to visit the refinery even today or tomorrow,” Chiejina had stated.

Previous post Deputy Senate President Urges Protest Organizers to Reconsider Plans
Hunger protest Next post Organised Private Sector of Nigeria Calls for Dialogue Over Planned August 1 Protest Against Inflation

Leave a Reply

Your email address will not be published. Required fields are marked *