NNPC Ltd has launched a new crude oil grade called Utapate into the international market. The oil is produced from Oil Mining Lease (OML) 13, operated by NNPC Ltd’s subsidiary, NEPL.
The first shipment of Utapate crude oil, which began in July 2024, is heading to Spain.
Currently, Utapate crude oil production stands at 28,000 barrels per day, with the potential to reach 50,000 barrels daily.
Its sulphur content is 0.0655%, making it similar to the popular Amenam crude. Spanish oil company Repsol secured the first shipment of 950,000 barrels, while Gulf Transport and Trading will handle future shipments.
The Utapate blend, like the previously launched Nembe crude oil, features low sulphur content and a low carbon footprint.
This aligns with European buyers’ preferences and highlights NNPC Ltd’s effort to boost Nigeria’s oil production and reserves through new developments.
(This Day)