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Nigeria to export new light crude in March – NNPCL

Nigeria will start exporting a new light, sweet crude grade called Cawthorne in March, the Nigerian National Petroleum Company Limited has announced.

A company spokesperson confirmed to Reuters on Tuesday that the move aims to boost oil production and reinforce Nigeria’s recent recovery in output.

The launch of Cawthorne is also expected to strengthen the country’s standing within OPEC as it pursues higher production targets amid rising output.

The launch of Cawthorne crude is part of Nigeria’s ongoing push to raise oil production, which has been limited for years by crude theft, pipeline vandalism, and security challenges in the Niger Delta. Sources say the first export cargo is expected in the third week of March.

With an API gravity of 36.4, Cawthorne is similar in quality to Nigeria’s flagship Bonny Light, a grade highly valued by refiners for its strong gasoline and diesel yields.

The NNPC reportedly issued a tender last week for the new crude, with loading set for March 24–25.

Analysts at energy intelligence firm Kpler said Cawthorne crude is expected to be exported via the Floating Storage and Offloading vessel Cawthorne, which has a storage capacity of around 2.2 million barrels.

The FSO is designed to improve crude transportation and production from Oil Mining Lease 18 and nearby assets in the eastern Niger Delta.

The launch of Cawthorne crude could lift Nigeria’s crude and condensate production from about 1.65 million barrels per day to roughly 1.7 million barrels per day for the rest of the year, contingent on stable operations and market conditions.

Nigeria’s crude production quota under the OPEC+ framework is currently set at 1.5 million barrels per day, with data showing the country produced about 1.48 million barrels per day in January.

In recent months, strengthened security across oil infrastructure and pipelines has helped boost output and curb losses from theft.

Cawthorne marks the third new crude grade introduced by Nigeria in recent years, as the government and industry stakeholders aim to diversify export streams and attract additional buyers.

Nigeria is accelerating reforms in its oil and gas sector under President Bola Tinubu, focusing on boosting production, attracting investment, and increasing government revenue.

Oil output had fallen in recent years due to operational disruptions and divestments by international oil companies, but recent gains in pipeline security and upstream operations are gradually restoring production levels.

Continued growth in production, along with the introduction of new crude grades, could boost Nigeria’s, revenues amid volatile, but still supportive global oil prices.