The Nigerian National Petroleum Company Limited has announced the export of its new crude grade, Cawthorne, marking a significant addition to Nigeria’s basket of crude streams and reinforcing the national oil company’s strategy to expand its portfolio of globally competitive export offerings. The maiden cargo of 950,000 barrels was loaded on April 5, 2026, aboard the MT Eburones vessel bound for the Netherlands, via the Cawthorne Floating Storage and Offloading vessel located offshore Bonny in Rivers State.
The Cawthorne blend has an API gravity of 36.4, placing it firmly within the light, sweet category comparable to Bonny Light, which is highly valued in global markets for its superior petrol and diesel yields. This new grade joins recent additions such as Nembe and Utapate, reflecting a sustained and structured approach by NNPC Ltd to optimise production, expand market offerings, and reinforce Nigeria’s position in the global crude oil market. Group Chief Executive Officer Engr. Bashir Bayo Ojulari commended President Bola Tinubu’s policy direction and sector reforms, along with collaboration from OML 18 partners and the Nigeria Upstream Petroleum Regulatory Commission.
From a macro-fiscal perspective, new crude grades enhance Nigeria’s competitiveness in a market where refiners increasingly seek specific quality characteristics. Light, sweet crudes typically command premium pricing because they yield higher proportions of valuable products such as petrol and diesel with less complex refining. By diversifying its export streams, NNPC reduces dependence on any single grade and can better respond to shifts in global refining demand. The strategic location of the Cawthorne FSO offshore Bonny also strengthens evacuation reliability and operational efficiency, addressing historical challenges of production bottlenecks and export delays.
The milestone aligns with the presidential mandate to scale crude oil production to three million barrels per day and gas output to 12 billion cubic feet per day by 2030. Each new grade that achieves commercial acceptance expands the market for Nigerian crude, potentially supporting higher production volumes and associated government revenues. For the broader economy, sustained increases in oil output and pricing power improve the balance of payments, support naira stability, and provide fiscal space for infrastructure and social spending. The NNPC’s emphasis on “moving decisively from resource potential to resource monetisation” signals a shift toward disciplined execution and value delivery across its asset base.
