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The state oil company NNPC has confirmed that the export of Cawthorne crude will formally begin in the third week of March. This decision is part of an extensive plan to increase the country’s pumping capacity, which has faced historical operational challenges in the Niger Delta.
Cawthorne Crude Specifications and Market Value
Likewise, the properties of this new resource position it as a highly competitive asset for global refineries. Cawthorne crude has an API gravity of 36.4 and is sweet and light, making it very similar to Nigeria’s Bonny Light.
This similarity is important because it ensures efficient performance in the production of gasoline and diesel, products with high demand in current international markets.
Consequently, the operation will be supported by a floating storage and offloading vessel with the capacity to manage 2.2 million barrels of crude. The infrastructure is designed to boost the output of resources from Oil Mining Lease 18 block and surrounding areas.
According to analyses by specialized firms like Kpler, this addition could raise the national crude and condensate supply to levels close to 1.7 million barrels per day for the rest of the year.
Furthermore, this increase in supply allows the nation to solidly approach its internal production targets and the quotas established by OPEC+. After averaging 1.48 million barrels per day in January, the launch of Cawthorne, combined with the previously introduced Utapate and Obodo grades, consolidates the growth trajectory of the national energy infrastructure.
Source: Reuters
Photo: NNPC