Nigeria’s state-owned oil company, Nigerian National Petroleum Company Limited, has launched a tender for its newly introduced Cawthorne crude oil grade as the country seeks to boost production and diversify export streams amid growing competition in global crude markets.
According to a tender document seen by Reuters, NNPC is inviting bids for 950,000 barrels of the light sweet Cawthorne crude, scheduled for loading between July 10 and 11 on a free-on-board (FOB) basis.
The launch marks the latest addition to Nigeria’s portfolio of exportable crude blends as Africa’s largest oil producer attempts to increase output following years of underinvestment, crude theft and operational disruptions that have constrained production.
Data from commodity intelligence firm Kpler showed that exports of Cawthorne crude averaged about 42,000 barrels per day during April and May after shipments of the grade began in March.
Nigeria has in recent years introduced several new crude streams, including the Nembe and Utapate grades, in a bid to attract a broader range of buyers and maximize revenue from its hydrocarbon sector.
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The Cawthorne grade is expected to appeal to refiners because of its light, sweet characteristics, which generally make it easier and less costly to process into high-value petroleum products.
The tender comes as Nigeria intensifies efforts to revive oil output, a key source of government revenue and foreign exchange earnings. Authorities have implemented measures to curb pipeline vandalism and oil theft while encouraging fresh investment in upstream operations.
However, traders say the West African crude market is facing increased pressure from rising global supplies. Additional barrels entering the market, particularly from the Middle East as shipping flows through the Strait of Hormuz recover, have weighed on demand for some regional grades.
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Market participants are closely watching how the new Cawthorne crude performs in the competitive Atlantic Basin market, where Nigerian grades compete with supplies from other African producers as well as crude exports from the Americas and the Middle East.
NNPC did not immediately respond to requests for comment on the tender.
Nigeria’s crude production has gradually recovered over the past two years, but output remains below levels seen before the sector was hit by widespread theft, infrastructure challenges and reduced investment.
The introduction of new export grades forms part of broader efforts by NNPC and the government to strengthen the country’s position in international oil markets while supporting production growth and export revenues.
