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From Yahoo Finance: 2025-06-09 11:22:00

Green Energy International (GEIL) successfully exports first crude oil from Otakikpo onshore terminal in Nigeria, partnering with Shell for shipment on 8 June. Terminal has 750,000-barrel storage capacity, aiming to expand to three million barrels. Initial investment tops $400m with total costs expected to exceed $1.3bn.

Otakikpo terminal, managed privately, will boost Nigeria’s crude production, reduce reliance on offshore terminals, and attract new investments in the oil sector. With global demand for African crude rising, the terminal is poised to draw more investor interest and enhance Nigeria’s position in the international energy market.

GEIL’s Otakikpo facility is crucial for crude evacuation, production growth, and aligns with Nigeria’s long-term energy strategy. The terminal plays a vital role in supporting Nigeria’s oil sector by providing a strategic solution for evacuating crude from over 40 nearby stranded oilfields holding over three billion barrels of oil equivalent.

Read more: GEIL-operated Otakikpo onshore terminal completes first crude oil export