HomeBusinessAITEO Innovates, Aiming Higher Oil Output for Nigeria

AITEO Innovates, Aiming Higher Oil Output for Nigeria

Published on

Nigeria’s oil giant, AITEO, has initiated a unique crude oil transport method. This strategic move aims to enhance the oil sector, aligning with President Bola Tinubu’s increased production goals.

Founded by Benedict Peters, AITEO’s latest venture seeks to reactivate the underutilized Nembe Creek. They’re employing smaller tankers, a shift that promises to uplift the industry significantly. By transporting oil from inland sites to international markets, this model stands to improve production and bolster the forex market.

AITEO, having taken over a pipeline from Shell Plc in 2015, focuses on its revival. The company targets continuous oil flow through the Niger Delta, using smaller vessels. This method, involving coordinated ships, counters existing logistical challenges.

Industry experts praise this tactic, though it’s costlier. However, it strategically positions Nigeria amidst impending OPEC quotas. Besides, AITEO’s approach includes deploying the ‘Galilean 7,’ a crucial asset near the Brass terminal.

The Nigerian Ethnic Youth Leaders Council (NEYLC) lauds Peters for this savvy model. The group sees it as a solution to economic hurdles caused by production disruptions. They urged government agencies to support AITEO’s mission for swift achievement.

The NEYLC emphasizes this initiative’s potential impact. They align with President Tinubu’s vision, recognizing the model’s capacity to navigate economic issues arising from production dips.

Conclusively, this development marks a significant shift in Nigeria’s oil industry, promising a more stable economic outlook.

Latest articles

Nigerian NGO Blasts Turkey Over Baby Gorilla Decision

A Nigerian NGO accuses Turkey of blocking the baby gorilla repatriation, calling it a violation of conservation ethics.

PDP Faces Internal War Ahead of National Convention

Internal divisions and mistrust deepen in PDP as the party prepares for its November convention amid growing leadership tension.

IMF Warns Nigeria on Rising Debt, Oil Risks Despite Reform Progress

IMF praises Nigeria’s economic reforms but warns that debt costs, fiscal pressures, and oil volatility could threaten recent recovery gains.

Nigeria Pledges Stable Jet A1 Fuel Supply

Nigeria’s government pledges stronger collaboration with oil marketers and airlines to stabilise Jet A1 supply and promote fair fuel pricing across the aviation sector

More like this

Nigerian NGO Blasts Turkey Over Baby Gorilla Decision

A Nigerian NGO accuses Turkey of blocking the baby gorilla repatriation, calling it a violation of conservation ethics.

PDP Faces Internal War Ahead of National Convention

Internal divisions and mistrust deepen in PDP as the party prepares for its November convention amid growing leadership tension.

IMF Warns Nigeria on Rising Debt, Oil Risks Despite Reform Progress

IMF praises Nigeria’s economic reforms but warns that debt costs, fiscal pressures, and oil volatility could threaten recent recovery gains.