Crude Oil Refinery Owners Association of Nigeria (CORAN) has said that the price of Premium Motor Spirit (petrol) can drop below N400 per litre with the current crash in crude oil prices. CORAN argued that there is no reason petrol should not be sold at N350 per litre if crude prices eventually fall to $50 per barrel. CORAN said petrol …

Crude oil refiners and other players in the downstream sector have stated that the dollar charges on locally refined Premium Motor Spirit (PMS), popularly called petrol, coupled with the cost of importing crude are major reasons for the high cost of the product when compared to imported PMS. Data obtained from the Major Energies Marketers Association of Nigeria on Tuesday …

Nigeria is on the brink of becoming Africa’s leading refining hub — a vision that, while ambitious, is within reach. As the Crude Oil Refinery Owners Association of Nigeria (CORAN) prepares for the 2024 Refining Summit, the theme “Making Nigeria a Net Exporter of Petroleum Products” is particularly relevant. This summit’s focus aligns with Nigeria’s broader industrialization goals, positioning the …

Owners of local refineries in Nigeria, including the Dangote Petroleum Refinery, say they can help the country stop the importation of refined petroleum products in 18 months if the Federal Government works with their plans. The refiners, who spoke under the aegis of the Crude Oil Refiners Association of Nigeria (CORAN), said there are other refineries at different stages of …