Libya's National Oil Corporation (NOC) denied on Sunday that it was negotiating to supply crude oil to a refinery in Nigeria.
A senior executive at Nigeria's Dangote Refinery told Reuters last week that the company was in talks with Libya to supply crude oil to the 650,000 barrel-per-day refinery.
The NOC denied in a statement on the X platform that it was "negotiating or engaging in any talks related to supplying crude oil to an oil refinery in Nigeria."
It added that it "is committed to its contracts with its international partners and is committed to the legal mechanism for selling Libyan crude oil and that it does not operate with a spot sale mechanism."
It continued that "the process of determining the prices of raw materials is carried out by a committee of experts and is approved by the corporation and the Ministry of Oil and Gas."
Libya's crude oil production stands at 1.28 million barrels per day, according to the NOC.
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