The Nigerian Upstream Petroleum Regulatory Commission announced the successful export of the inaugural cargo of the Obodo crude blend, marking a pivotal achievement for the country’s upstream oil industry.

In a statement on Tuesday, the NUPRC Chief Executive, Gbenga Komolafe, lauded Conoil Producing Limited for spearheading the shipment, which underscores the increasing prowess of indigenous operators in bolstering Nigeria’s crude oil production and export capacity.

Komolafe said this development marks a significant milestone for Nigeria’s upstream sector, demonstrating the growing capacity of indigenous operators to contribute meaningfully to national crude oil production and exports.

“The introduction of the Obodo crude blend further diversifies Nigeria’s export portfolio and aligns with the commission’s strategic objectives to enhance production output, maximise hydrocarbon resources, and attract investment through operational efficiency and innovation,” he said.

Komolafe stated that Conoil’s success, within the production sharing contract framework with the Nigerian National Petroleum Company Limited, highlights the benefits of collaborative regulatory support, empowering indigenous companies to excel.

“As the regulator of Nigeria’s upstream petroleum industry, the NUPRC remains committed to providing a transparent, predictable, and investment-friendly environment that encourages the development of new crude streams and ensures optimal value for the Nigerian people.

“We look forward to more milestones of this nature that advance national energy security and economic resilience,” he said.

It was previously reported that the medium sweet Obodo crude would be available on the market in April. According to an assay reviewed by Argus Media, Obodo has an API gravity of 27.65° and a sulfur content of 0.05%.