The Nigerian National Petroleum Corporation Limited (NNPCL) has begun selling its latest crude oil grade, the Utapate crude oil blend, to international refiners, marking a milestone in Nigeria’s crude oil production and export capabilities.
The Utapate blend, first introduced in May 2024 and produced from the Utapate field in Akwa Ibom’s Oil Mining Lease 13, boasts a low sulphur content of 0.0655% and a low carbon footprint. These qualities make it highly desirable among European refiners and align with global environmental standards.
Speaking at the Argus European Crude Conference in London, NNPCL highlighted the rapid growth of Utapate production, reaching 40,000 barrels per day (bpd) and exporting five cargoes to Spain and the U.S. East Coast. Two additional shipments are scheduled for November and December 2024.
Nicholas Foucart, Managing Director of NNPC E&P Limited, described the development as a significant boost to Nigeria’s crude oil exports. He announced plans to increase production to 65,000 bpd by mid-2025 and potentially 80,000 bpd by year-end.
The Utapate blend’s pricing and specifications mirror the highly sought-after Amenam crude, making it a competitive product in the global energy market. Lawal Sade, Managing Director of NNPC Trading Limited, emphasized its appeal due to its light, sweet nature and efficient yield of high-value products.
This launch follows NNPCL’s introduction of the Nembe crude oil blend last year, further underscoring the corporation’s commitment to expanding Nigeria’s presence in the global oil market.
