The Nigerian National Petroleum Corporation (NNPC) Ltd has revealed the launch of the Utapate crude oil blend, a new grade of crude oil, into the international market.... CLICK TO READ THE FULL NEWS HERE▶▶
The oil is made from Oil Mining Lease (OML) 13, fully operated by NNPC Ltd’s upstream subsidiary, Nigerian Petroleum Development Company (NEPL).
The Utapate crude oil blend started operations in July 2024, with its first cargo being shipped to Spain.
Utapate’s production now stands at 28,000 barrels daily, with plans to increase output to 50,000 barrels.
The crude oil blend is a highly desirable product in the market as it has a 0.0655% sulphur content.
Since the Utapate crude oil blend has a low sulphur content and low carbon footprint because of flare gas elimination, it fits perfectly into the required spec of major buyers in Europe.
Gulf Transport and Trading, a top crude oil dealer, has obtained tenders for the cargoes for August and September 2024.
The NNPC Ltd continues to be committed to improving Nigeria’s crude oil production and growing reserves by developing new assets.
