Nigeria Shipped First Cargo of Obodo Crude Oil Blend

SEATTLE (Oil Monster): Nigeria announced that it has shipped the first cargo of its newly launched Obodo crude oil blend. The announcement to this effect was made by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The cargo, destined for Germany, was produced and exported by Conoil Producing Limited.

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NUPRC Chief Executive Officer Mr. Gbanga Komolafe said the discovery is a major turning point for the nation's upstream oil industry. He continued by saying that such achievements will be crucial to enhancing economic resilience and national energy security. Komolafe added that it also shows the growing ability of local operators to contribute to the production and export of crude oil domestically.

Conoil was commended by Komolafe for successfully shipping the crude oil blend's maiden shipment.

In keeping with NUPRC's strategic goals, the launch of the new crude oil mix significantly diversifies Nigeria's export portfolio. It should be mentioned that blends like Forcados, Escravos, and Bonga, which are highly sought-after worldwide, are already part of the nation's crude oil export portfolio.

The medium sweet Obodo crude oil mix contains about 0.05% sulfur, according to media reports. The price of the new grade is probably going to be comparable to that of Bonga crude oil from Nigeria.