By Obafemi Oredein
Special to Dow Jones Newswires
IBADAN, Nigeria--The Nigerian government has issued licences for the establishment of two new crude oil export terminals in the country, the Nigerian Midstream and Downstream Petroleum Regulatory Authority said.
The licenses were issued in line with the provisions of the country's Petroleum Industry Act, Farouk Ahmed, NMDPRA's chief executive officer, said Tuesday.
The Utapate Export Crude Oil Terminal in the state of Akwa Ibom, in Nigeria's southeast, would be operated by Nigerian National Petroleum's Exploration and Production and the Belema Sweet Crude Export Terminal would be run by Belemaoil Producing, an indigenous independent exploration and production company in the state of Rivers.
The Utapate offshore terminal is expected to have a capacity of 2.2 million barrels, while the Belema terminal is expected to have a capacity of 2 million barrels.
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June 15, 2023 at 01:36AM
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