Nigeria Exports Newly Discovered Crude Oil Blend, Obodo, as Prices Rise

• Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Nigeria's newest crude oil blend, Obodo, has been exported
• The chief executive of NUPRC, Gbenga Komolafe, disclosed this, saying that Conoil Producing Limited made the first shipment
• He said the move places Nigeria among the top oil producers globally and shows the impact of indigenous oil companies

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said the first cargo of the newly discovered crude blend, Obodo, has been exported.

The NUPRC chief executive, Gbenga Komolafe, disclosed this in a statement on Tuesday, May 13, 2025, while congratulating Conoil Producing Limited on the successful shipment of the first cargo.

Conoil ships Nigeria’s new crude blend

The NUPRC boss said the development is a significant milestone for Nigeria’s upstream, showing the growing capacity of indigenous operators to contribute to national crude production and exports.

According to him, the Obodo crude blend introduction further diversifies Nigeria’s export portfolio, aligning with NUPRC’s objectives to boost production output, maximise hydrocarbon resources, and attract investment.

He disclosed that the achievement by Conoil shows the positive outcomes of collaborative regulatory support, allowing indigenous players to grow.

Punch reported that Komolafe said the commission remains committed to providing a transparent, predictable, and investment-friendly environment that enhances the development of new crude streams and ensures value for Nigerians.

“We look forward to more milestones of this nature that advance national energy security and economic resilience,” he said.

Obodo has low sulphur content

Legit.ng earlier reported that the new crude blend would hit the market in April.

Data by Argus Media showed that the new blend has a gravity of 27.65 degrees API and a sulphur content of 0.05pc and is likely to be priced in line with Nigeria’s medium sweet, Bonga.

Nigeria’s crude output hits new high

Meanwhile, Legit.ng also reported that Nigeria’s crude oil output hit a two-month high in April, showing a modest recovery.

However, the new production is below Nigeria’s assigned quota set by the Organisation of the Petroleum Exporting Countries (OPEC).

Nigeria’s improved production fails OPEC test

According to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the country pumped about 1.486 million barrels daily in April, from 1.401 million barrels in March.

April figure shows Nigeria’s best performance since February, but is short of the 1.5mbpd quota allotted by OPEC for the review period.

NUPRC disclosed that the crude production was 99% of the OPEC quota at 1.5.

According to reports, Nigeria’s crude oil production, including condensates, for April reached 1.683 mbpd.

The upstream regulator stated that OPEC does not include condensates in its quota for member countries.

Nigeria ramps up production in April

The NUPRC report showed that daily production in April ranged between 1.60 million barrels daily at its lowest and 1.73 million bpd at its peak.

The daily average comprised 1.485.700 bpd of crude oil and 197,607 bpd of condensates, hitting 1,683,307 bpd.

Nigeria’s oil production has been unstable in the first quarter of 2025, with output hitting 1.539 million barrels daily in January, 1.466 mbpd in February, before declining to 1.401 mbpd in March, and later recovering to 1.486 mbpd in April.

Conoil exports Nigeria’s newest crude oil blend

Legit.ng previously reported Conoil Producing, the oil exploration firm owned by Nigerian billionaire businessman Mike Adenuga, has taken a major step in Africa’s energy industry by initiating the sale of Nigeria’s newest crude oil blend, known as the Obodo blend, to the international market.

Nigeria’s oil sector began a new chapter in April when Conoil Producing, led by Adenuga—the first Nigerian businessman to strike oil—formally introduced the Obodo blend.

The Nigerian National Petroleum Company (NNPC) Limited and the company entered into a production sharing agreement.

Proofreading by James Ojo, copy editor at Legit.ng.

Source: Legit.ng