Cawthorne is a light, sweet crude with an API gravity of 36.4, comparable to Bonny Light, which is valued in the market for its high petrol and diesel yields. Its introduction into global markets follows that of the light and sweet Utapate crude in 2023 and the low-sulphur Nembe in 2024.
The maiden cargo of 950,000 barrels was loaded on the 2026-built VLCC Eburones on April 5 via the Cawthorne FSO stationed offshore Bonny Island.
“We are moving decisively from resource potential to resource monetisation, ensuring that every asset delivers measurable commercial outcomes. The successful export of the Cawthorne crude grade is not an isolated achievement; it is part of a broader, deliberate strategy to grow production, deepen market relevance, and strengthen Nigeria’s position as a reliable global energy supplier,” said NNCL Group CEO Bashir Bayo Ojulari.
The new export stream supports crude evacuation from production licence OML 18 and is part of Nigeria’s drive to raise oil production to 3 million bopd and gas output to 340 mcm (12 bcf) per day by 2030.
State-owned NNPCL operates across oil and gas exploration and production, downstream refining and hydrocarbons marketing and trading. The company has been operating as a limited liability company since the 2022 Petroleum Industry Act.