— As plants reduce reliance on imports — CORAN President
By Udeme Akpan, Energy Editor & Olakunle Oke
The Federal Government has created an automated crude oil trading platform bringing together industry regulators, crude oil producers, refineries and oil marketers to enhance crude oil production, allocation, pricing and delivery to indigenous refineries in the country.
Before now, the different parties operated in silos, making it difficult to engage, reach agreements and take seamless actions aimed at ensuring adequate and timely crude oil supply and smooth operations of refineries under the Domestic Crude Supply Obligation (DCSO) framework.
In its latest report, the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, said the Dangote Refinery required 63 million barrels of crude oil in the second quarter of 2026, while producers offered higher volumes of 68.1 million barrels.
