The Nigerian National Petroleum Corporation Limited has officially launched its Utapate crude oil blend for the international market.
The unveiling happened at the ongoing Argus European Crude Conference in London, with European crude oil marketers in attendance.
NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, confirmed the launch in a statement on Wednesday. He highlighted that the Utapate crude oil blend had already made an impression on the global market since its introduction in July 2024.
“Since the first cargo of 950,000 barrels was sent to Spain, the Utapate blend has gained a positive response due to its quality,” the statement read.
The Managing Director of NNPC Exploration and Production Limited, Nicholas Foucart, described the Utapate blend as a “significant milestone” for Nigeria’s crude oil exports.
“Since production began in May 2024, we have increased output to 40,000 barrels per day (bpd). So far, five cargoes have been exported to Spain and the U.S. East Coast, with two more scheduled for November and December,” Foucart said.
He also announced plans to boost production to 80,000 bpd by the end of 2025.
Foucart explained that the Utapate crude oil terminal in Akwa Ibom State is environmentally sustainable and complies with global standards.
Managing Director of NNPC Trading Ltd., Lawal Sade, praised the Utapate blend for its high quality.
“It is a light, sweet crude with low sulphur content, making it highly sought after by refiners worldwide. Our pricing is competitive and aims to deliver value to producers and buyers alike,” Sade said.
He added that NNPCL plans to establish term contracts to ensure steady supply to European and U.S. East Coast refineries.
The Utapate crude oil blend is produced from Oil Mining Lease (OML) 13 in Akwa Ibom. It has a low carbon footprint and aligns with environmental standards due to its flare gas elimination practices.
NNPCL’s entry into the market with this blend comes nearly a year after the launch of Nembe crude oil.
