Coran News Update

Our Latest Blog Posts
14
Jul

Support for modular refineries will give Nigerians cheaper fuel – CORAN

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,…

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03
Mar

CORAN Urges the Federal Government of Nigeria to Expand Naira-for-Crude Policy to Modular Refineries Amid Rising AGO Prices.

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…

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03
Jan

TRUE FAITH IN NIGERIA’S DOWNSTREAM: Why Local Refinery Companies Built While Importers Traded

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…

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13
Dec

PRESS BRIEF

The Crude Oil Refinery-owners Association of Nigeria (CORAN) extends warm commendations to the Dangote Petroleum Refinery for its recent milestone in ramping up domestic refining of Premium Motor Spirit (PMS) and effecting a significant reduction in the ex-depot price of petrol. This achievement, coming at a time when Nigerians are preparing for the yuletide season, offers much-needed relief to households and businesses across the country. CORAN notes with pride that…

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26
Sep

Local refineries owners confirm end of Naira-for-crude initiative for local refineries

The Crude Oil Refinery-owners Association of Nigeria (CORAN) has confirmed the end of the Naira-for-Crude initiative of the Federal Government which was aimed at supporting local refineries. The National Publicity Secretary of CORAN, Eche Idoko, in a chat with Nairametrics, explained that the first phase of the Naira-for-crude arrangement was meant to end in March and it has ended. The Crude Oil Refinery-owners Association of Nigeria (CORAN) has confirmed the…

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26
Sep

Crude Oil Refiners Set For 2025 Summit To Shape Africa’s Energy Security Agenda

The Crude Oil Refiners Association of Nigeria (CORAN) has announced its 2025 summit, scheduled to take place in Lagos on October 6–7, with a focus on positioning Africa’s refining sector as the key to ensuring energy security and reducing dependence on imported petroleum products. The two-day conference, themed “Refining: Key to Energy Security in Africa”, will bring together government leaders, industry executives, financiers, and civil society stakeholders to chart a…

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26
Sep

Crude Oil Refiners to Brainstorm on Africa’s Refining Agenda at 2025 Summit

The Crude Oil Refiners Association of Nigeria (CORAN) has announced its summit for 2025, explaining that the event is set to shape Africa’s refining agenda in a bid to ensure energy security on the continent.Scheduled to take place in Lagos on October 6-7, 2025, the two-day programme themed: “Refining: Key to Energy Security in Africa,” will convene top leaders from government, industry, finance, and civil society to chart a new…

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21
Sep

CORAN warns refinery protests may derail economic progress

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…

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19
Sep

CORAN urges Dangote refinery, DAPPMAN to end rift

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…

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19
Sep

Dangote Refinery vs DAPPMAN – CORAN urges calm, collaboration

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…

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17
Sep

Dangote, DAPPMAN, and Nigeria’s Refining Future: CORAN’s Call for Collaboration over Conflict

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…

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