Glamtush
No Result
View All Result
  • Home
  • News
  • Beauty
  • Business & Brands
  • Entertainment
  • Fashion
  • Features
  • Lifestyle
  • Politics
  • Sports
  • Telenovelas
  • Events
  • Home
  • News
  • Beauty
  • Business & Brands
  • Entertainment
  • Fashion
  • Features
  • Lifestyle
  • Politics
  • Sports
  • Telenovelas
  • Events
No Result
View All Result
Glamtush
No Result
View All Result
Home Business & Brands

Fidelity Bank Funds Construction Of Nigeria’s First Privately Built Onshore Oil Export Facility In 50 Years

byeditor
June 17, 2025
in Business & Brands
Reading Time: 2 mins read
Fidelity Bank
Share on FacebookShare on TwitterShare on PinterestShare on WhatsappShare on LinkedinShare on Telegram

Fidelity Bank has funded the construction of Nigeria’s first privately built onshore oil export facility in 50 years.

 

 

READ ALSO

The Alternative Bank Leads 300-Strong March To Combat Plastic Pollution In Lagos

Union Bank Rewards Customers With ₦5 Million Each In Save And Win Palli Promo Season 4 Grand Finale

Glamtush reports that in a significant boost to Nigeria’s crude oil production and export capabilities, leading financial institution Fidelity Bank Plc has facilitated the construction of the country’s first privately built and operated onshore crude export terminal in over 50 years.

The terminal, located at the Otakikpo Marginal Field in Rivers State and operated by Green Energy International Limited (GEIL), successfully exported its first crude oil cargo at 2pm on Sunday, June 8, 2025, when a Shell-chartered vessel lifted the maiden shipment — marking a key milestone in the nation’s oil and gas industry.

Commenting on Fidelity Bank’s role in making the project a reality, Managing Director/CEO Dr. Nneka Onyeali-Ikpe said: “Our partnership with Green Energy International underscores our confidence in the ability of indigenous companies to drive progress in the country’s energy sector.

“With an initial storage capacity of 750,000 barrels — expandable to 3 million — and a loading capacity of 360,000 barrels per day, this terminal will significantly boost Nigeria’s energy security. Transformative projects like this reflect Fidelity Bank’s deep-rooted mission to help individuals to grow, businesses to thrive and economies to prosper.”

The launch of the terminal is expected to ease reliance on offshore facilities and attract fresh investment into the country’s oil industry.

GEIL’s chairman, Prof. Anthony Adegbulugbe, described the feat as a historic milestone made possible by divine intervention, the hard work of the company’s team, and the support of regulators.

“We appreciate all our partners and the dedication of our indigenous technical team who made this happen. It’s a proud moment for us, for Africa’s energy industry, and for the future of the country’s oil and gas development.”

According to Prof. Adegbulugbe, the terminal was constructed in under two years and stands as the first crude terminal developed by a private operator on the continent.

The terminal is designed to handle up to 250,000 barrels per day of crude injection, while the Otakikpo field currently produces about 10,000 barrels per day. The company explained that the terminal also provides a strategic evacuation route for more than 40 nearby stranded fields — collectively holding an estimated 3 billion barrels of oil equivalent — thereby strengthening production and export capabilities.

With growing global demand for Africa’s crude oil, the Otakikpo terminal is poised to attract further investment and reinforce Nigeria’s role in the international energy market. The facility will be key to improving oil evacuation and boosting production in line with the country’s long-term energy goals.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

 

The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

Related Posts

Plastic Pollution
Business & Brands

The Alternative Bank Leads 300-Strong March To Combat Plastic Pollution In Lagos

July 28, 2025
Union Bank
Business & Brands

Union Bank Rewards Customers With ₦5 Million Each In Save And Win Palli Promo Season 4 Grand Finale

July 28, 2025
Solar Powered Bags
Business & Brands

Fidelity Bank Launches Solar Powered Bags For School Children

July 26, 2025
SME
Business & Brands

Fidelity Bank Empowers SMEs With Business Management Systems

July 25, 2025
Sterling One Foundation
Business & Brands

Sterling One Foundation, UN Set Stage For Africa’s Next Leap At ASIS 4.0

July 25, 2025
Blood
Business & Brands

Access Group Staff Donates Blood Across Africa In Life-Saving Initiative  

July 24, 2025
Next Post
Olori Aderonke EmmanuelKing

Olori Aderonke EmmanuelKing Honoured In Spirit-Filled Birthday Celebration As Valiant Special Prayer Squad Marks Third Anniversary

LATEST COVER

Priscilla Ojo

GPBN Associates Member

Fidelity Bank

Zenith Bank

National Honours

Tinubu Confers Triumphant Super Falcons With National Honours, Awards $100,000 To Each Player

July 28, 2025
The Evil Eye Returns Teasers August 2025

Star Life: New! The Evil Eye Returns Teasers July 2025

July 28, 2025
Plastic Pollution

The Alternative Bank Leads 300-Strong March To Combat Plastic Pollution In Lagos

July 28, 2025
Union Bank

Union Bank Rewards Customers With ₦5 Million Each In Save And Win Palli Promo Season 4 Grand Finale

July 28, 2025
Male Housemates

BBNaija Season 10: 14 Male Housemates Unveiled After Previous Female Reveal

July 27, 2025
Sacred Love Teasers August 2025

Star Life: Sacred Love Teasers August 2025

July 27, 2025
WAFCON

WAFCON: Ajibade, Nnadozie Win Best Player, Goalkeeper Awards

July 27, 2025

Meet The 15 Female Housemates Of BBNaija Season 10

July 27, 2025
National Honours

UPDATED: Super Falcons Lift 10th WAFCON Trophy

July 26, 2025
Female Housemates

BBNaija S10: 15 Beautiful Female Housemates Enter Into Biggies House

July 26, 2025

GLAMTUSH

 

Glamtush publishes the latest trends in fashion, beauty, and lifestyle, as well as those making the fashion world interesting and adorable.

RELEVANT PAGES

  • About Us
  • Advertise
  • Contact Us

REACH OUT

Do you have any news for us? Event Coverage, Press Releases or Adverts? Then reach out to us via glamtush@gmail.com or glamtush15@gmail.com

OFFICE ADDRESS

Lagos, Nigeria

Copyright © 2022 Glamtush

  • About Us
  • Advertise
  • Contact Us
  • Disclaimer
  • Glamtush – Nigeria News, Nigerian Newspapers, Naija News
  • Glamtush – Nigeria News, Nigerian Newspapers, Naija News
  • Terms And Conditions
  • Write for Us

© 2022 Glamtush

No Result
View All Result
  • Home
  • News
  • Beauty
  • Business & Brands
  • Entertainment
  • Fashion
  • Features
  • Lifestyle
  • Politics
  • Sports
  • Telenovelas
  • Events

© 2022 Glamtush