The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said the first cargo of the newly discovered crude blend, Obodo, has been exported.
The NUPRC chief executive, Gbenga Komolafe, disclosed this in a statement on Tuesday, May 13, 2025, while congratulating Conoil Producing Limited on the successful shipment of the first cargo.
Conoil ships Nigeria’s new crude blend
The NUPRC boss said the development is a significant milestone for Nigeria’s upstream, showing the growing capacity of indigenous operators to contribute to national crude production and exports.
According to him, the Obodo crude blend introduction further diversifies Nigeria’s export portfolio, aligning with NUPRC’s objectives to boost production output, maximise hydrocarbon resources, and attract investment.
He disclosed that the achievement by Conoil shows the positive outcomes of collaborative regulatory support, allowing indigenous players to grow.
Punch reported that Komolafe said the commission remains committed to providing a transparent, predictable, and investment-friendly environment that enhances the development of new crude streams and ensures value for Nigerians.
“We look forward to more milestones of this nature that advance national energy security and economic resilience,” he said.
Obodo has low sulphur content
Legit.ng earlier reported that the new crude blend would hit the market in April.
Data by Argus Media showed that the new blend has a gravity of 27.65 degrees API and a sulphur content of 0.05pc and is likely to be priced in line with Nigeria’s medium sweet, Bonga.
Nigeria’s crude output hits new high
Meanwhile, Legit.ng also reported that Nigeria’s crude oil output hit a two-month high in April, showing a modest recovery.
However, the new production is below Nigeria’s assigned quota set by the Organisation of the Petroleum Exporting Countries (OPEC).
Nigeria’s improved production fails OPEC test
According to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the country pumped about 1.486 million barrels daily in April, from 1.401 million barrels in March.
April figure shows Nigeria’s best performance since February, but is short of the 1.5mbpd quota allotted by OPEC for the review period.
NUPRC disclosed that the crude production was 99% of the OPEC quota at 1.5. According to reports, Nigeria’s crude oil production, including condensates, for April reached 1.683 mbpd.
The upstream regulator stated that OPEC does not include condensates in its quota for member countries.
Nigeria ramps up production in April
The NUPRC report showed that daily production in April ranged between 1.60 million barrels daily at its lowest and 1.73 million bpd at its peak.
The daily average comprised 1.485.700 bpd of crude oil and 197,607 bpd of condensates, hitting 1,683,307 bpd.
Nigeria’s oil production has been unstable in the first quarter of 2025, with output hitting 1.539 million barrels daily in January, 1.466 mbpd in February, before declining to 1.401 mbpd in March, and later recovering to 1.486 mbpd in April.
Source: www.legit.ng
