The Federal Government has issued a licence for the establishment of the Belema Sweet Export Terminal, the first of its kind in the world and thus acquired its first Hybrid Crude Export Terminal, with eight million barrels of storage capacity.
With the grant of the licence, Nigeria has successfully acquired its first Hybrid Crude Export Terminal, with an eight million barrels of storage capacity.
Ahmed noted that with the presentation of the licence to Belema Sweet Export Terminal, the indigenous oil company becomes the second to acquire such a license, the first being the Nigerian National Petroleum Corporation Exploration and Production Limited. ”In line with this, the authority has processed and hereby approved terminal establishment licenses to these two organisations.
According to him, the terminals are expected to operate within the provisions of the conditions of the licences as contained in the document. ”With the establishment of Belema Sweet Crude Export Terminal, Nigeria now ranks number one in the world to establish a crude oil Export Terminal that is climate-conscious, where traditional energy and renewable energy integration is operated through a virtual power plant model.”This will also create over 100,000 jobs for families in the Niger Delta and Nigeria at large.
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