• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Global Investors on High Alert as Nigeria Opens $400m Crude Export Terminal

3 weeks ago
in Business, Energy, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
34
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

“Make your money, but please bring it and invest locally,” Tony Elumelu tells African investors

Copper Price Rises on Mine Struggles, Goldman Bull Flag

BoG Governor Unveils Four-Pillar Strategy to Build an Innovative and Resilient Financial System

Global Investors on High Alert as Nigeria Opens $400m Crude Export Terminal

President Bola Tinubu will inaugurate the $400 million Otakikpo Onshore Crude Oil Export Terminal in Rivers State on Wednesday, October 8, marking the first new crude export facility to be built in Nigeria in over half a century.

The terminal, developed by Green Energy International Limited (GEIL), operators of the Otakikpo field in OML 11 at Ikuru town, Andoni Local Government Area, is Nigeria’s first wholly indigenous onshore export facility since the Forcados Terminal was commissioned in 1971.

Top officials, including Minister of State for Petroleum (Oil) Senator Heineken Lokpobiri and Rivers State Governor Siminalayi Fubara, are expected to attend the ceremony.

GEIL’s Executive Director of Legal and Corporate Services, Olusegun Ilori, said the project aligns with President Tinubu’s efforts to boost crude production and solve evacuation challenges.

“This project is a strategic infrastructure that supports the administration’s commitment to raising output while reducing costs,” Ilori stated.

A strategic fix for Nigeria’s evacuation bottlenecks

Nigeria’s oil industry has long struggled with evacuation bottlenecks, which limit the Federal Government’s ambition to reach three million barrels per day. The new terminal is expected to provide a lifeline to over 40 stranded oil fields, creating a secure evacuation route and unlocking millions of barrels of trapped crude.

With an initial storage capacity of 750,000 barrels, expandable to three million barrels, and a loading rate of 360,000 barrels per day, the facility is projected to reduce costs for indigenous producers while increasing export capacity.

Professor Anthony Adegbulugbe, Chairman and Chief Executive of GEIL, described the development as transformational.

“What we have achieved here is not just a storage solution, but a pathway for about 40 stranded oil fields to finally contribute to the economy,” he said.

For Nigeria, the terminal signals a renewed push to restore investor confidence in a sector grappling with falling production, oil theft, vandalism, and rising operational costs.

From an African perspective, it also highlights how local companies are beginning to lead in building strategic infrastructure once dominated by international oil majors.

Source: businessinsider
Via: norvanreports
Tags: $400m Crude Export Terminalglobal investorsGlobal Investors on High Alert as Nigeria Opens $400m Crude Export Terminal

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Lands Minister Revokes 278 Small-Scale Mining Licenses

UK Bans Lewis Hamilton and Chelsea FC Gambling Ads for Targeting Children

GSE Closes Thursday’s Session Lower as Composite Index Falls by 0.82%

BoG’s Director of Fintech and Innovation, Kwame Oppong, Exits Central Bank After Spearheading Major Fintech Reforms

Black Queens Cruise to 3-0 Victory Over Egypt in WAFCON Qualifier

Five Key Storylines to Follow Ahead of the 2025 Mexico City Grand Prix

Trending

Features

“Make your money, but please bring it and invest locally,” Tony Elumelu tells African investors

October 24, 2025

“Make your money, but please bring it and invest locally,” Tony Elumelu tells African investors Nigerian business...

Copper Price Rises on Mine Struggles, Goldman Bull Flag

October 24, 2025
Governor of the Bank of Ghana (BoG), Dr Johnson Asiama,

BoG Governor Unveils Four-Pillar Strategy to Build an Innovative and Resilient Financial System

October 24, 2025

Lands Minister Revokes 278 Small-Scale Mining Licenses

October 24, 2025

UK Bans Lewis Hamilton and Chelsea FC Gambling Ads for Targeting Children

October 24, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.