NNPC Begins Export Of New Cawthorne Crude Grade - 19 hours ago

Nigeria is preparing to launch exports of a new light, sweet crude grade known as Cawthorne, a move expected to bolster national output and reinforce the country’s standing within the Organisation of the Petroleum Exporting Countries.

The Nigerian National Petroleum Company Limited confirmed that the first export cargo of Cawthorne is scheduled for loading in March, with market sources indicating a likely window in the third week of the month. The new stream is part of a broader strategy to reverse years of production setbacks caused by crude theft, pipeline vandalism and insecurity in the Niger Delta.

Cawthorne crude has an API gravity of 36.4, placing it in the same quality bracket as Nigeria’s flagship Bonny Light, a grade prized by refiners for its high yields of gasoline and diesel. Industry documents show that NNPC has already issued a tender for the inaugural cargo, with loading dates around March 24 to 25.

Energy analytics firm Kpler reports that exports will be handled through the Floating Storage and Offloading vessel Cawthorne, which can store about 2.2 million barrels. The FSO is positioned to serve Oil Mining Lease 18 and nearby assets in the eastern Niger Delta, providing a dedicated evacuation route for crude from the area.

Industry projections suggest that the introduction of Cawthorne could lift Nigeria’s combined crude and condensate output from roughly 1.65 million barrels per day to about 1.7 million barrels per day, assuming stable operations and steady demand. That would place production slightly above Nigeria’s current OPEC+ quota of 1.5 million barrels per day, at a time when the country is lobbying for a higher official target on the back of improving volumes.

Cawthorne is the third new crude grade Nigeria has rolled out in recent years, following the launch of Obodo and Utapate. Analysts say the diversification of export streams allows the country to tailor supplies to different refineries and regions, sharpen its pricing strategy and reduce reliance on a handful of legacy grades.

The new grade comes as the government pursues reforms aimed at restoring investor confidence in the oil and gas sector, improving security along key pipeline corridors and maximising revenue from hydrocarbon exports. After years of decline driven by operational disruptions and divestments by major international oil companies, recent gains in output and the addition of fresh crude streams are seen as critical to stabilising Nigeria’s external earnings and fiscal position.

Attach Product

Cancel

You have a new feedback message