Advancing Nigeria’s Crude Oil Refining Industry

Mar 19

“The emergence of modular refineries in Nigeria will be a better avenue for the production and distribution of petroleum in the country.” Mr. Momoh Oyarekhua, Chairman Crude Oil Refinery-Owners Association of Nigeria (CORAN) while speaking during the Nigeria International Energy Summit (N.I.E.S) 2024.

Mr. Oyarekhua highlighted several areas in which the introduction of more modular refineries will help the country. He said that the establishment of modular refineries offers a superior means for petroleum production and distribution, which will help to cut costs at different areas for both the country and the citizens. Speaking on its security benefits, the chairman said that with the use of modular refineries, Crude oil will not need to be passed through the pipeline, as the crude will be immediately refined and sent into the market, which will drastically reduce all theft in the country and reduce the amount of money spent on security for the pipeline.

In his statement, he recalled that in the country at the time, there were no functioning refineries, and he began talking with technical partners in 2017 for the need to have a working refinery in Nigeria. Today, he proudly said that OPAC Refineries is the only refinery in the country that has built its own refinery, with their technical partners who are still working with them to this date.

“Refining is just a very simple technology, based on our elementary chemistry. So, when the moderator asked the question of what are we doing to sustain the industry? What are we doing to support downstream and all of that? I keep saying, refining, refining, refining!!  We have four operating refineries in the country today; Aradel Refinery, WalterSmith, our own refinery (OPAC), and Edo refinery. The total capacity as at today is about 27,000 barrels per day.” Mr. Momoh Oyarekhua stated.