The Nigerian National Petroleum Company Limited has begun exporting a new crude oil grade, Cawthorne, as part of efforts to boost production capacity and expand Nigeria’s presence in global energy markets.
In a statement, company spokesperson Andy Odeh said the new grade is aimed at improving crude evacuation efficiency and supporting the government’s broader production growth targets.
The Cawthorne Blend, classified as a light, sweet crude with an API gravity of 36.4, is comparable to Nigeria’s Bonny Light and is valued for its high yields of petrol and diesel.
NNPCL said the first cargo of about 950,000 barrels was loaded April 5 onto the MT Eburones vessel and shipped to the Netherlands for distribution to the global market. The crude was exported via the Cawthorne Floating Storage and Offloading vessel located offshore Bonny in Rivers State, which supports operations at Oil Mining Lease 18.
The company said the introduction of the new grade aligns with its strategy to expand market offerings and support a government target of increasing crude production to 3 million barrels per day and gas output to 12 billion cubic feet per day by 2030.
NNPCL Group Chief Executive Officer Bayo Ojulari credited recent policy reforms under President Bola Tinubu and collaboration among industry stakeholders for enabling the milestone.
Meanwhile, global oil prices surged amid escalating tensions in the Middle East. U.S. benchmark West Texas Intermediate rose to $115.8 per barrel, its highest level since 2008, while Brent crude climbed to $111.
The spike followed warnings from U.S. President Donald Trump and reports of strikes on Iran’s Kharg Island, which handles about 90% of the country’s oil exports.
Disruptions to flows through the Strait of Hormuz, a key global shipping route, have raised concerns over supply constraints, pushing prices into crisis territory.
Iran rejected U.S. demands tied to the conflict, with the Islamic Revolutionary Guards Corps warning of potential retaliation against U.S. and allied infrastructure if tensions escalate further.
