NNPCL Begins Export of Cawthorne Crude as Global Oil Prices Surge

The Nigerian National Petroleum Company Limited (NNPCL) has launched the export of a new crude oil grade, Cawthorne, in a move aimed at boosting the country’s production capacity and strengthening its position in the global oil market.

In a statement issued by its Chief Corporate Communications Officer, Andy Odeh, the company said the development aligns with its strategy to expand Nigeria’s range of exportable crude blends and improve operational efficiency.

Cawthorne Blend, classified as a light, sweet crude with an API gravity of 36.4, is comparable to Nigeria’s popular Bonny Light and is expected to attract strong demand due to its high yield of refined products such as petrol and diesel.

NNPCL confirmed that its first shipment of the new grade—950,000 barrels—was loaded onto the MT Eburones vessel on April 5, 2026, and dispatched to the Netherlands for distribution to the international market. The cargo was exported through the Cawthorne Floating Storage and Offloading (FSO) facility located offshore Bonny, Rivers State, which enhances evacuation from Oil Mining Lease (OML) 18 and improves export reliability.

The company noted that the introduction of the Cawthorne grade reflects its broader goal of maximising asset value, expanding market competitiveness, and supporting the Federal Government’s target of increasing crude oil production to three million barrels per day and gas output to 12 billion cubic feet per day by 2030.

NNPCL’s Group Chief Executive Officer, Bayo Ojulari, praised ongoing sector reforms and stakeholder collaboration, including efforts by the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) and partners in OML 18, describing the milestone as a result of coordinated industry efforts.

He reaffirmed the company’s commitment to innovation, operational discipline, and strategic partnerships to ensure long-term energy security and sustainable growth.

Meanwhile, global oil prices surged amid escalating geopolitical tensions. West Texas Intermediate (WTI) crude rose to $115.8 per barrel—its highest level since 2008—while Brent crude climbed to $111 per barrel.

The spike followed reports of strikes on Iran’s Kharg Island, a key export hub responsible for about 90 per cent of the country’s oil shipments, raising concerns over supply disruptions. Heightened tensions around the Strait of Hormuz, a critical route for global oil flows, further intensified market uncertainty.

Analysts say the current rally is being driven more by supply risks and infrastructure threats than by demand, marking a shift from previous price surges.

NNPCL reiterated its commitment to leveraging innovation and partnerships to unlock the full value of Nigeria’s hydrocarbon resources while supporting economic growth and energy security.