The Nigerian National Petroleum Company Limited has officially launched the Utapate Crude Oil Blend, a new grade of crude oil, into the global market.

This announcement was made in a statement signed by Femi Soneye, Chief Corporate Communications Officer (CCCO) at NNPC, and shared with the Nigerian Tribune.

The new facility, located offshore Akwa Ibom State in South-South Nigeria, boasts a production capacity of 28,000 barrels per day, with plans to ramp up to 50,000 barrels per day. The Utapate crude, with a sulphur content of 0.0655%, commenced operations in July 2024. Its first shipment is heading to Spain, with Spanish oil giant Repsol winning the tender for this initial cargo.

Gulf Transport and Trading, a prominent crude oil dealer, has also secured tenders for Utapate’s cargoes in August and September 2024. The blend, which is similar to the highly sought-after Amenam crude, offers low sulphur content and a reduced carbon footprint due to flare gas elimination. This positions Utapate to meet the stringent requirements of major European buyers.

This introduction follows the earlier launch of Nembe crude oil at the Argus European Crude Conference in London last year. Both Utapate and Nembe grades reflect NNPC Ltd.’s commitment to enhancing Nigeria’s oil production, expanding reserves, and developing new assets to bolster the country’s presence in the international crude oil market.