The Nigerian National Petroleum Company Limited (NNPC Ltd.) has launched a new crude oil grade, the Utapate blend, into the global market.
Sourced from Oil Mining Lease (OML) 13, which is fully operated by NNPC Ltd.’s upstream subsidiary NEPL, the Utapate crude oil blend began operations in July 2024, with its first shipment destined for Spain.
Located offshore Akwa Ibom State, Nigeria, the Utapate blend currently produces 28,000 barrels per day (bpd), with the potential to increase output to 50,000 bpd.
The crude’s sulphur content is notably low at 0.0655 percent, making it highly desirable for international buyers.
According to Olufemi Soneye, NNPC Ltd.’s Chief Corporate Communications Officer, Spanish oil company Repsol secured the initial cargo of 950,000 barrels, and Gulf Transport and Trading have also won tenders for shipments in August and September 2024.
The introduction of the Utapate blend follows NNPC Ltd.’s earlier launch of the Nembe crude oil grade during the Argus European Crude Conference in 2023.
Both the Utapate and Nembe grades feature low sulphur content and a reduced carbon footprint, aligning with the specifications required by major European buyers.
This development underscores NNPC Ltd.’s commitment to enhancing Nigeria’s crude oil production and expanding its reserves by exploring and developing new assets.
