Nigerian National Petroleum Company Limited says Nigeria’s revenue could receive a boost after exporting 950,000 barrels of a new crude grade known as Cawthorne Blend into the global market.
The shipment, announced on Monday, was lifted from the FSO Cawthorne vessel, described as Nigeria’s first new crude oil terminal in 50 years, following licensing by the Nigerian Upstream Petroleum Regulatory Commission.
The facility supports production from Oil Mining Lease 18 and nearby assets, providing storage and export capabilities. Energy firm Sahara Group says the development marks a significant milestone for Nigeria’s oil and gas sector.
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The new light sweet crude, with an API gravity of 36.4, similar to Bonny Light, is expected to support increased output, with Nigeria’s production projected to rise from about 1.65 million barrels per day to around 1.7 million, depending on market conditions and operational stability.
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