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Home Government

Libya Denies Oil Talks with Nigeria

Eriki Joan UgunushebyEriki Joan Ugunushe
July 28, 2024
in Government
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Libya Denies Oil Talks with Nigeria
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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.

Tags: federal charactergovernmentLibyaLibya Denies Oil Talks with NigeriaNewsNigeriaoil
Eriki Joan Ugunushe

Eriki Joan Ugunushe

Eriki Joan Ugunushe is a dedicated news writer and an aspiring entertainment and media lawyer. Graduated from the University of Ibadan, she combines her legal acumen with a passion for writing to craft compelling news stories.Eriki's commitment to effective communication shines through her participation in the Jobberman soft skills training, where she honed her abilities to overcome communication barriers, embrace the email culture, and provide and receive constructive feedback. She has also nurtured her creativity skills, understanding how creativity fosters critical thinking—a valuable asset in both writing and law.

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