NNPC LAUNCHES UTAPATE CRUDE OIL GRADE IN GLOBAL MARKET
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GREATTRIBUNETVNEWS–Nigerian National Petroleum Company Limited (NNPC Ltd) has officially introduced its new crude oil grade, Utapate, to the international market.
_Key Highlights:_
– _Utapate Crude Oil Blend_: NNPC’s latest crude oil grade, unveiled at the Argus European Crude Conference in London.
– _Global Debut_: Utapate crude oil blend enters global energy market.
– _Partnership_: NNPC Ltd and Sterling Oil Exploration & Energy Production Company (SEEPCO) Ltd collaborated on the project.
– _First Shipment_: 950,000 barrels lifted in July 2024, headed for Spain.
NNPC E & P Limited (NEPL) Managing Director, Nicholas Foucart, described the launch as a significant milestone for Nigeria’s crude oil export, Olufemi Soneye, Chief Corporate Communications Officer NNPC Ltd conveyed this in a statement
_Benefits:_
– _Increased Export Revenue_: Utapate crude oil blend expected to boost Nigeria’s oil export earnings.
– _Enhanced Global Presence_: Nigeria’s crude oil market share to expand.
– _Diversified Oil Portfolio_: Utapate crude oil blend adds to Nigeria’s diverse oil export offerings.
The introduction of Utapate crude oil grade reinforces Nigeria’s position as a major player in the global energy market.
