Nigerian National Petroleum Company launches new crude oil grade
The Nigerian National Petroleum Company Limited (NNPC Ltd) on Monday announced the introduction of a Utapate crude oil blend, a new crude oil grade, into the international market which content is 0.0655 per cent.
Penpushing reports that the Chief Corporate Communications Officer of the company Olufemi Soneye, made this known, in a statement, explaining that from Oil Mining Lease (OML) 13, entirely operated by the corporation Exploration and Production Limited (NEPL), the Utapate crude oil blend commenced operations in July as its first cargo headed for Spain.
The Chief Corporate Communications Officer added that this remarkable achievement signals the commitment of Nigerian National Petroleum Company Limited (NNPC Ltd) to increase Nigeria’s crude oil production and grow reserves by developing new assets.
“Spanish oil giant Repsol won the tender for the initial cargo of the new crude blend, which is comparable to the much sought-after Amenam crude. Gulf Transport and Trading, another leading crude oil dealer, have also secured the cargoes’ tenders for August and September 2024’, the statement added
‘Similar to the Nembe crude oil grade, the Utapate crude oil blend has a low sulphur content and low carbon footprint due to flare gas elimination, fitting perfectly into the required spec of major buyers in Europe’, Soneye stated
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