The Nation Newspaper Why modular refinery operators can’t access bank loans
Operators of modular refineries have blamed their inability to access bank loans on government’s reluctance to release feedstock guarantee letters to them.The member, who spoke in confidence, added that CORAN members were yet to access the required volume of crude oil.
He said the Nigerian Upstream Regulatory Commission , which has conceded to the implement some aspects of the 2021 Petroleum Industry Act , it may be in USD or naira as may be agreed between the lessees or supplier and the licensee of the refining license,” said the source. “There are also conditions attached – crude oil may be sold to holders of crude oil refining licenses whose refineries are operational
Head, Public Affairs and Corporate Communications NUPRC, Mrs. Olaide Shonola, had earlier issued a press statement, saying that the agency was set to enforce domestic crude supply obligation.
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