The Nigerian National Petroleum Company Limited (NNPC) has introduced the Utapate Crude Oil Blend, marking a significant development in the country’s oil industry.
This was posted on the National Orientation Agency, Nigeria X’s handle on Friday, 23rd August 2024.
This new blend is distinguished by its low sulphur content of 0.0655% and minimal carbon footprint, thanks to the elimination of flare gas, aligning with the specifications sought by major European oil merchants.
NNPC has already sold the initial 950,000 barrels of Utapate Crude Oil Blend to REPSOL, a leading Spanish oil company, through a successful July tender.
The tenders for August and September have been secured by UAE’s Gulf Transport and Trading Company.
Mined offshore in Akwa Ibom state, this new crude oil brand represents NNPC’s commitment to developing new assets that enhance crude oil production and boost Nigeria’s revenue.
Currently, Utapate Crude Oil is produced at a rate of 28,000 barrels per day, with the potential to reach 50,000 barrels per day.
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