Nigeria to start exporting new crude grade in March

Ranked News

📰 Africa

Nigeria to start exporting new crude grade in March 11d ago

CGTN

Nigeria's state-owned Nigerian National Petroleum Company (NNPC) will commence exports of a new light, sweet crude grade named Cawthorne in March, aiming to boost production and recover from years of decline caused by vandalism, theft, and insecurity. This initiative follows the introduction of Utapate in 2024 and Obodo in 2025, as Nigeria seeks to enhance its standing within OPEC and advocate for a higher production quota. The first Cawthorne cargoes are slated for loading in the third week of March, with the crude possessing an API gravity of 36.4, similar to Bonny Light and favored by refiners for its high gasoline and diesel yields. The Cawthorne crude will be exported using a floating storage and offloading vessel with a 2.2 million barrel capacity, potentially increasing Nigeria's total crude and condensate production from 1.65 million barrels per day to approximately 1.7 million bpd.

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