Contract for delivery of crude oil to refineries

Our attention has been drawn to the Press Release issued by the Nigerian National Petroleum Corporation (NNPC) that made reference to the “Contract for Delivery of Crude oil to Refineries”.

Sahara Group acknowledges the right of parties to mutually explore reviews, updates and cessation of contracts in response to extenuating circumstances.

It should be noted that it became imperative for the Offshore Processing Agreement (OPA) – hitherto an effective tool – to be reviewed in light of the current oil prices and global economic outlook.

As has been the case over the past 20 years, Sahara has and continues to maintain a strong and mutually beneficial relationship with NNPC across the energy value chain and will readily support the corporation, every step of the way in its determination to consistently improve its service to the Nigerian people.

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