In a significant move, AITEO, Nigeria’s leading oil producer, introduced a revolutionary oil transport method. The strategy supports President Bola Tinubu’s goal of increased oil production.
Oil mogul Benedict Peters’ AITEO is breathing new life into the stagnant Nembe Creek. They’re using smaller tankers, a shift vital for the industry’s future. This tactic enhances production and fortifies Nigeria’s foreign exchange market, as per a recent report.
AITEO emphasized its dedication on Friday to renewing the long-inactive Nembe Creek trunk pipeline, acquired from Shell Plc. Their method: smaller ships navigating Niger Delta’s channels, ensuring consistent Nembe Creek oil flow.
The plan involves small ships meeting larger tankers, a creative solution designed to beat current hurdles. Experts applaud this innovation, despite higher costs, for its potential to maintain production amid OPEC quotas.
Moreover, AITEO’s plan features the Galilean 7, significant for storage near the Brass terminal.
The NEYLC, representing diverse youth groups, praised Peters’ entrepreneurial vision. They acknowledged its role in tackling economic issues stemming from oil production interruptions.
Conveyed by Nwada Ike Chiama on Friday, the coalition’s message underscored the move’s importance, aligning with President Tinubu’s enhancement plans for oil production. They stressed the need for governmental backing, encouraging official bodies to facilitate AITEO’s swift goal attainment.
