Libya’s National Oil Corporation, otherwise known as NOC, on Sunday 28th of July, 2024, denied holding negotiations to supply crude oil to a refinery in Nigeria.
A senior executive with Nigeria’s Dangote refinery disclosed last week that it was in talks with Libya to secure crude for the 650,000 barrels per day plant.
“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.
NOC added that it is committed to its contracts with its international partners and “adheres to the legal mechanism for selling Libyan crude oil and does not work with the spot sale mechanism.”
According to NOC, Libya’s national crude oil output is 1.28 million barrels per day.
NOC is one of the few institutions in the troubled country to have stayed in one piece. Oil revenues are vital to the economy, with Libya sitting on Africa’s largest known reserves.
