The Crude Oil Refinery-owners Association of Nigeria (CORAN) Urges the Federal Government of Nigeria to Expand Naira-for-Crude Policy to Modular Refineries Amid Rising AGO Prices. CORAN has called on the Federal Government and the Presidential Committee on the Naira-for-Crude Initiative to urgently expand the program to include modular refineries across the country. This appeal comes against the backdrop of escalating global crude oil prices triggered by the ongoing tensions in…

By: Crude Oil Refinery-owners Association of Nigeria (CORAN) Introduction Nigeria’s downstream petroleum sector is undergoing a long-overdue reckoning. After decades of heavy dependence on imported petroleum products, subsidy distortions, and massive capital leakage, the country is finally witnessing the emergence of local refinery companies that have chosen to invest, build, and operate refining assets on Nigerian soil. This development raises an important national question: Who has truly demonstrated faith in…

CORAN warns refinery protests may derail economic progressNigeria’s downstream oil sector has once again been thrust into the spotlight following growing disputes between refinery operators, petroleum marketers, and truck drivers’ unions over the future of the country’s refining revolution. While one camp warns against monopoly and unfair practices, another is calling for restraint, negotiation, and collaboration to protect the nation’s fragile economic recovery. Reacting to this, the Crude Oil Refiners…

The Crude Oil Refinery Owners Association of Nigeria has appealed for calm in the ongoing dispute between the Dangote Refinery and the Depot and Petroleum Products Marketers Association of Nigeria, warning that rivalry could derail Nigeria’s refining progress. In a statement issued in Lagos on Thursday and signed by its Chairman, Momoh Oyarekhua, obtained by PUNCH Online on Friday, the association urged both sides to prioritise national interest over personal…

Dangote Refinery vs DAPPMAN – CORAN urges calm, collaboration The Crude Oil Refinery Owners Association of Nigeria (CORAN) has called for unity and cooperation among stakeholders in the downstream oil and gas sector, urging the Dangote Refinery and the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) to set aside rivalry in the interest of Nigeria’s refining future. The association made the call in a press statement issued in…

The Crude Oil Refiners Association of Nigeria (CORAN) notes with concern the ongoing bickering between the Dangote Refinery and the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN). While disagreements are expected in a competitive market, the current rift risks distracting the nation from a more urgent reality: Nigeria is on the cusp of a refining revolution that must not be stifled by primordial sentiments or vested interests. For…

As Nigeria grapples with the low supply of premium motor spirit (PMS), also called petrol, into the country due to scarcity of foreign exchange to boost importation, modular refinery owners are seeking government intervention to expand their refining capacity thereby improving supply. The refinery owners, under the aegis of Crude Oil Refinery-owners Association of Nigeria (CORAN) who met with the minister of state, Petroleum Resources (Oil), Senator Heineken Lokpobiri, in…

Momoh Oyarekhua, Chairman of CORAN, states that supporting modular refineries will grant Nigerians access to cheaper fuel, eliminating various costs such as importing refined products and clearing fees. According to Oyarekhua, four modular refineries are functional in Nigeria, producing various petroleum products except fuel (PMS) due to the high cost of obtaining the required reformer. Oyarekhua highlighted that those modular refineries, located near wellheads in states such as Delta, Edo,…

The Chairman, Board of Trustees of the Crude Oil Refiners Association of Nigeria (CORAN), Captain Emmanuel Iheanacho, has called for greater investment in the establishment of modular refineries in Nigeria, as a step towards improving the oil and gas downstream sector. Iheanacho, who is also the Chairman of Eko Refineries and Integrated Oil & Gas Nigeria Ltd told newsmen in a chat on Friday in Lagos that having efficient crude…