The Nigerian National Petroleum Company Limited (NNPC) today announced the successful launch of a new crude oil grade, marking a significant expansion of the nation’s export portfolio. Simultaneously, the company confirmed the immediate shipment of 950,000 barrels of this new grade to a major refinery in the Netherlands.
The new crude variant, provisionally named Utapate, is a medium, sweet crude blend characterized by its low sulfur content and high distillate yield. Industry analysts note that the grade is expected to appeal strongly to European refiners seeking alternatives to Russian barrels, as well as Asian buyers focused on gasoline and diesel production.
NNPC’s Group Chief Executive Officer, Mele Kyari, described the development as a strategic milestone. “This is not merely a new product; it is a statement of our evolving capability to optimize Nigeria’s upstream value. The Utapate grade unlocks additional production streams and offers our international customers greater flexibility and quality.”
The maiden consignment of 950,000 barrels approximately one standard Very Large Crude Carrier (VLCC) load was loaded at the Bonny Export Terminal and is en route to Rotterdam. The shipment was purchased by a leading European trading house under a term contract, with pricing set at a premium to the Brent benchmark.
Key Highlights of the New Grade: API Gravity: Approx. 38-40° (light crude). Sulfur Content: ~0.12% (sweet). Primary Markets: Northwest Europe, India, Southeast Asia. Advantages: High naphtha and jet fuel yield, low logistics cost from existing terminals
The NNPC confirmed that production of the Utapate blend will ramp up to 50,000 barrels per day by Q4, with a target of 100,000 bpd by mid-next year. The company also noted that the new grade does not affect existing commitments for other crude streams such as Bonny Light or Forcados.
“The successful delivery to the Netherlands validates our quality assurance and logistics coordination,” Kyari added. “We invite global refiners to schedule trial lifts as we scale up production.”
Analysts at Energy Outlook suggest the new grade could capture up to 3% of Europe’s light sweet crude market within 12 months, easing supply tightness ahead of the winter refining season.
NNPC has opened data packages and assay reports for the Utapate crude to accredited trading partners immediately.