Nigeria has officially launched a new crude oil grade named Obodo, with the inaugural shipment of the blend successfully completed, according to a statement from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
The milestone was acknowledged by NUPRC Chief Executive, Gbenga Komolafe, who thanked Conoil Producing Limited for monitoring the successful shipment of the inaugural Obodo crude cargo.
“This marks a major achievement for Nigeria’s upstream sector and showcases the increasing impact of indigenous oil companies on the nation’s production and export capacities,” Komolafe said.
The NUPRC chief noted that the new Obodo blend adds significant diversity to Nigeria’s crude export offerings. “This development aligns with our strategic agenda to optimize hydrocarbon exploitation, drive production growth, and attract foreign direct investment through regulatory efficiency and operational innovation,” he added.
Obodo crude, a medium sweet blend, is being produced under a production sharing contract between Conoil and the Nigerian National Petroleum Company Limited (NNPC). The blend is set to play a role in strengthening Nigeria’s global energy profile.
Komolafe emphasized that the commission will continue to provide a stable, transparent, and investor-friendly regulatory environment to support the emergence of new crude streams and maximize value creation for Nigerians.
The first barrels of Obodo, expected to reach international buyers this April, come with promising specifications. According to a crude oil assay reviewed by Argus Media, Obodo boasts an API gravity of 27.65° and a sulphur content of just 0.05%, making it comparable in value to Nigeria’s established Bonga blend.
The introduction of Obodo marks a renewed emphasis on domestic capacity and export diversification in the petroleum industry as Nigeria seeks to improve energy security and economic resilience.
