Nigeria Achieves Historic Milestone with Belema Sweet Export Terminal

The Federal Government has granted a license for the establishment of the Belema Sweet Export Terminal, marking a significant achievement for the nation.

This remarkable milestone positions Nigeria as the pioneer in the global arena, boasting the first-ever Hybrid Crude Export Terminal with an impressive storage capacity of eight million barrels.

The Nigerian Mainstream and Downstream Petroleum Regulatory Authority (NMDPRA) presented the license to the Chief Executive Officer of Belema Oil Producing Limited, Mr. Tein Jack-Rich, during a ceremony held in Abuja on Tuesday.

Farouk Ahmed, the CEO of NMDPRA, reiterated the Federal Government’s unwavering commitment to fostering an enabling business environment in Nigeria. He highlighted the pivotal role played by the licensing of the Belema Sweet Export Terminal, which has now become the second indigenous oil company to receive such authorization. The first recipient was the Nigerian National Petroleum Corporation (NNPC) Exploration and Production Limited.

Ahmed underscored the Authority’s position that, aside from the NNPC Exploration and Production Limited and Belema Oil Producing Limited, no entity has the right to engage in exploration activities or establish terminals or other facilities for the export or importation of crude oil or petroleum products within the country.

“In line with this, the Authority has processed and hereby approved terminal establishment licenses to these two organizations,” stated Farouk Ahmed.

“The NNPC Exploration and Production Limited has been granted a license for a 2,179,704-barrel crude oil terminal at OffShore Akwa Ibom State within the exclusive zone’s waters. The second organization, Belema Sweet Export Terminal in Kula, Rivers State, has received a license for a 2 million-barrel crude oil terminal.”

This significant achievement solidifies Nigeria’s position as a leader in the global oil and gas industry. The establishment of the Belema Sweet Export Terminal not only enhances the nation’s export capabilities but also signifies a monumental step toward boosting its economic growth and international standing.

The license presentation demonstrates the government’s proactive approach to fostering a favorable investment climate and streamlining business operations in Nigeria. By empowering indigenous companies and granting them the necessary licenses, the government aims to promote local participation and drive sustainable economic development in the country.