The federal government has issued licences to the NNPCL Exploration and Production Ltd. and Belema Sweet Export Terminal Ltd for the establishment of crude export terminals.
The licences were approved and issued to the companies on Tuesday in Abuja by the Authority Chief Executive (ACE) of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed.
The News Agency of Nigeria (NAN) reports that the NNPCL Exploration and Production Ltd. operates Utapate Export Terminal, located in Akwa Ibom State while the Belema Sweet Export Terminal Ltd is located in Rivers State.
They are the first set of licences to establish crude oil terminals, sealed and granted by the NMDPRA.
Speaking at the signing of the Terminal Establishment Licences, Mr Ahmed said the development would add more than four million barrels of capacity to Nigeria’s Export Storage.
He said the issuance of the licences was pursuant to the provisions of the Petroleum Industry Act…