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 Publicity Secretary of the Crude Oil Refiners Association of Nigeria (CORAN), Eche Idoko, has challenged the continued issuance of licences for the importation of Petroleum Motor Spirit by the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The Crude Oil Refinery-owners Association of Nigeria (CORAN) has said Nigeria is gradually becoming a refining hub in West Africa but complained that already established refineries face supply challenges.
The Crude Oil Refinery-owners Association of Nigeria (CORAN) has called on the Federal Government to consider supporting local refineries with production and processing assets to help them thrive.
The Crude Oil Refinery-owners Association of Nigeria (CORAN) has said that none of their members have begun receiving the sales of crude oil in the local currency, naira.
Despite the optimistic stance of the Crude Oil Refinery Owners Association of Nigeria (CORAN) regarding the current landscape for investing in modular refineries, emerging signals suggest that pouring more money into this fuel energy sub-sector might be a gamble.
CORAN, has emphasized that supporting modular refineries will provide Nigerians with access to more affordable fuel.
