NNPCL Unveils Latest Crude Oil Grade
The Nigeria National Petroleum Company Limited, NNPCL has unveiled before the international crude oil market its latest crude oil grade, the Utapate crude oil blend.
During a ceremony at the Argus European Crude Conference in London, the Managing Director, NNPC E & P Limited (NEPL), Mr. Nicholas Foucart described the introduction of the Utapate crude oil blend into the market as a significant milestone for Nigeria’s crude oil export to the global energy market.
He said Since the production at the Utapate Field commenced in May 2024, it rapidly ramped up production to 40,000 barrels per day (bpd) with minimum downtime.
In a statement by the NNPCL chief communication officer, Olufemi Soneye, the field has exported five cargoes, largely to Spain and the East Coast of the United States; while two more additional cargoes have been secured for November and December 2024, representing a significant boost to Nigeria’s crude oil export to the global market.
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