NUPRC boss urges CORAN members to bid for oil blocks, assures refineries of Crude Supply
CHIGOZIE AMADI
The Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has encouraged members of the Crude Oil Refinery Owners Association of Nigeria (CORAN) to consider participating in the next oil block licensing round as a strategic option for securing affordable crude feedstock for their refineries.
The position was made known on Wednesday during a courtesy visit by members of CORAN to the NUPRC headquarters in Jabi, Abuja, where both parties held discussions on strengthening domestic refining capacity, crude supply sustainability, and collaboration between upstream producers and local refiners.
According to the Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, greater participation of indigenous refiners in upstream asset ownership would help create more stable and commercially viable crude supply arrangements, while also deepening local participation across the petroleum value chain.
She further assured members of CORAN that Nigeria has sufficient crude resources to support domestic refining ambitions and reiterated the Commission’s commitment to promoting policies that prioritize in-country value addition.
Eyesan therefore, encouraged refinery operators to enter into long-term crude supply contracts with producers as a practical mechanism for ensuring predictable feedstock availability, operational planning, and pricing stability.
The NUPRC Chief however, acknowledged that infrastructure limitations must be tackled before the country can witness seamless crude supply to local refineries. She identified issues such as inadequate pipeline networks, evacuation bottlenecks, storage constraints, marine logistics, and other supply chain gaps as areas requiring urgent investment and coordinated action.
Members of CORAN used the visit to commend the Commission’s ongoing regulatory reforms and its support for domestic refining development, while also emphasizing the need for stronger implementation of frameworks that guarantee regular crude supply to local plants.
Industry stakeholders have increasingly argued that improved access to crude feedstock remains central to reducing Nigeria’s dependence on imported petroleum products, strengthening energy security, conserving foreign exchange, and creating jobs through the growth of local refining capacity.
The meeting is seen as another step in ongoing engagements between regulators and private refinery operators aimed at unlocking the full potential of Nigeria’s downstream petroleum sector.
