The Nigerian Upstream Petroleum Regulatory Fee says the primary cargo of the brand new Obodo crude mix has been shipped.
In a press release by the NUPRC Chief Government, Gbenga Komolafe, on Tuesday, he congratulated Conoil Producing Restricted on the profitable cargo of the primary cargo of the Obodo crude mix.
Komolafe stated this improvement marks a major milestone for Nigeria’s upstream sector, demonstrating the rising capability of indigenous operators to contribute meaningfully to nationwide crude oil manufacturing and exports.
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“The introduction of the Obodo crude mix additional diversifies Nigeria’s export portfolio and aligns with the fee’s strategic targets to boost manufacturing output, maximise hydrocarbon assets, and entice funding by way of operational effectivity and innovation,” he stated.
Komolafe maintained that this achievement by Conoil, below the manufacturing sharing contract framework with the Nigerian Nationwide Petroleum Firm Restricted, additionally displays the constructive outcomes of collaborative regulatory assist, enabling indigenous gamers to thrive.
“Because the regulator of Nigeria’s upstream petroleum trade, the NUPRC stays dedicated to offering a clear, predictable, and investment-friendly atmosphere that encourages the event of recent crude streams and ensures optimum worth for the Nigerian folks.
“We look ahead to extra milestones of this nature that advance nationwide power safety and financial resilience,” he stated.
An assay reviewed by Argus Media indicated that Obodo has a gravity of 27.65°API and a sulphur content material of 0.05pc. It was stated that the grade is more likely to be priced consistent with Nigerian medium candy Bonga.
