Nigeria\u2019s state oil company NNPC has exported its first \u200bcargo of a new light crude \u200cgrade,\u00a0Cawthorne, to the Netherlands, the company said on Wednesday.<\/p>\n
NNPC is aiming to boost production and diversify \u200bits export streams as Nigeria works \u200bto lift output after years of \u2060underinvestment, oil theft and operational disruptions.<\/p>\n
About 950,000 \u200bbarrels were shipped from the Cawthorne floating \u200bstorage and offloading vessel (FSO), located off Bonny in Rivers State, which supports output from oil mining \u200blease 18, NNPC said.<\/p>\n
The launch follows \u200brecent additions such as Nembe and Utapate crudes under \u200cwhat \u2060NNPC described as a broader strategy to expand Nigeria\u2019s portfolio of exportable oil blends.<\/p>\n
Nigeria produced about 1.4 million barrels per \u200bday in March, \u200bOPEC \u2060data shows, well below capacity.<\/p>\n
NNPC Chief Executive Bashir Bayo Ojulari said \u200bthe development supported government targets \u200bto \u2060raise crude output to 3 million bpd by 2030.<\/p>\n
Nigeria depends on oil exports for \u2060most \u200bof its foreign exchange \u200bearnings.<\/p>\n","protected":false},"excerpt":{"rendered":"
Nigeria\u2019s state oil company NNPC has exported its first \u200bcargo of a new light crude \u200cgrade,\u00a0Cawthorne, to the Netherlands, the company said on Wednesday. NNPC is aiming to boost production and diversify \u200bits export streams as Nigeria works \u200bto lift output after years of \u2060underinvestment, oil theft and operational disruptions. About 950,000 \u200bbarrels were shipped […]<\/p>\n","protected":false},"author":6,"featured_media":20458,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":8,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_comment_section":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Reuters","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[2831,2362,27],"tags":[5023,5022,175,4888],"class_list":["post-20457","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","category-featured","category-west-africa","tag-bashir-bayo-ojulari","tag-cawthorne","tag-nigeria","tag-nigerian-national-petroleum-company-limited-nnpcl"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/20457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=20457"}],"version-history":[{"count":1,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/20457\/revisions"}],"predecessor-version":[{"id":20459,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/20457\/revisions\/20459"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/20458"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=20457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=20457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=20457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}