Libya’s National Oil Corporation (NOC) has vehemently denied claims that it is in talks with Nigeria to supply crude oil. This comes after a high-ranking official from Nigeria’s Dangote refinery hinted at potential negotiations to secure Libyan crude for their massive 650,000 barrel-per-day plant.
The NOC, in a clear and direct statement, dismissed these allegations as unfounded. They emphasized their commitment to existing contracts with international partners and insisted on adhering to strict legal procedures for selling Libyan oil. The company clarified that they are not involved in the informal ‘spot sale’ market.
“The National Oil Corporation denies that it is negotiating or engaging in any talks regarding the supply of crude oil to an oil refinery in Nigeria,” NOC said in a statement on social media platform X.
This denial has sent confusion through the global oil market, as many analysts are of the opinion that a deal between Libya and Nigeria could significantly impact oil prices and supply chains. With Libya producing a substantial 1.28 million barrels of crude oil daily, the potential for such a partnership was seen as a success.
However, the NOC’s strong stance has put these speculations to rest, at least for now.
