According to statement issued by the Chief Corporate Communications Officer, Andy Odeh,  that the Cawthorne blend, the newest addition to Nigeria’s portfolio of crude oil grades, has an API gravity of 36.4, classifying it as a light and sweet crude.

This places it in the same category as Bonny Light and makes it highly attractive in the international market because of its high petrol and diesel yield.

NNPC Ltd further confirmed that the Cawthorne blend was loaded onto the MT Eburones vessel for shipment to The Netherlands, from where it will enter the global market.

The first consignment, consisting of 950,000 barrels, was exported through the Cawthorne Floating Storage and Offloading (FSO) vessel.

Strategically positioned offshore Bonny in Rivers State, the FSO is designed to improve crude evacuation from OML 18, while also reinforcing Nigeria’s export dependability, operational effectiveness, and overall energy security.

The launch of Cawthorne into the international market reflects NNPC Ltd’s intentional strategy to maximize value from its assets, strengthen competitiveness in the global energy market, and support the presidential target of increasing crude oil production to three million barrels per day and gas production to 12 billion cubic feet per day by 2030.

The Group Chief Executive Officer of NNPC Ltd, Bashir Bayo Ojulari, praised President Bola Ahmed Tinubu’s policy initiatives, ongoing reforms in the sector, and the strong collaboration among OML 18 partners, the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), and other stakeholders that made the milestone possible.

According to him, NNPC Limited will continue to leverage innovation, build strategic partnerships, and maintain efficient operational practices to maximize the value of Nigeria’s hydrocarbon resources, while protecting the country’s long-term energy stability and economic growth.

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This commitment was made during a courtesy visit by the President/Chief Executive of Dangote Group, Mr. Aliko Dangote, and his delegation to the Group CEO of NNPC Ltd., Mr. Bashir Bayo Ojulari, and members of the company’s Senior Management Team at the NNPC Towers, on Thursday.

During the visit, Dangote pledged to collaborate with the new NNPC Management to ensure energy security for Nigeria.

“There is no competition between us, we are not here to compete with NNPC Ltd. NNPC is part and parcel of our business and we are also part of NNPC. This is an era of co-operation between the two organizations.” Dangote added.

While congratulating the GCEO and the Senior Management Team on their “well-deserved appointments,” Dangote acknowledged the enormity of the responsibility ahead, noting that the GCEO is shouldering a monumental task, which he expressed confidence that, with the capable hands at his disposal in NNPC, the task is surmountable.

In his remarks, the GCEO, Mr. Bashir Bayo Ojulari assured Dangote of a mutually beneficial partnership anchored on healthy competition and productive collaboration.

Ojulari highlighted the exceptional caliber of talent he met in NNPC Ltd., describing the workforce as a dedicated, highly skilled and hardworking professionals who are consistently keen on delivering value for Nigeria.

Expressing the company’s readiness to build a legacy of national prosperity through innovation and shared purpose, Ojulari said NNPC will sustain its collaboration with the Dangote Group especially where there is commercial advantage for Nigeria.

Both executives also committed to being the relationship managers for their respective organisations through sustained productive collaboration and healthy competition, thereby envisioning limitless opportunities for both organizations.

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The company which announced this at a press briefing on Thursday said the feat was achieved in compliance with the mandate of President Bola Ahmed Tinubu.

Speaking on the development, the Group Chief Executive Officer, Mr. Mele Kyari, congratulated the Production War Room Team that anchored the production recovery process.

“The team has done a great job in driving this project of not just production recovery but also escalating production to expected levels that are in the short and long terms acceptable to our shareholders based on the mandates that we have from the President, the Honourable Minister, and the Board,” Kyari explained.

Giving details of the efforts of the Production War Room, the Chief War Room Coordinator and Senior Business Adviser to the Group Chief Executive Officer, Mr. Lawal Musa, disclosed that the feat was achieved through the collaborative efforts of Joint Venture and Production Sharing Contract partners, the Office of the National Security Adviser, as well as government and private security agencies.

He said the interventions that led to the recovery of production cut across every segment of the production chain with security agencies closely monitoring the pipelines.

He stressed that when the Production War Room team was inaugurated on the 25th June 2024, production was at 1.430mbpd, but the team swung into action, culminating into it sustaining the production recovery to 1.7mbpd in August and hitting the current 1.808mbpd in November.

“We are confident that with this same momentum and with the active collaboration of all stakeholders, especially on the security front, we can see the possibility of getting to 2mbpd by the end of the year,” he stated.

Also speaking on the development, Chairman of the NNPC Ltd Board of Directors, Chief Pius Akinyelure, who also congratulated the team, said he was happy to be part of the production recovery process, adding: “today, I will leave this place with my heart full of joy”.

He charged the Company’s Management to come up with a cashflow projection based on the new production figures to facilitate planning, stressing that he was looking forward to further production increase to 3mbpd.

On his part, the Honourable Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, expressed satisfaction with the performance of the team and pledged the Federal Government’s support for the company to do more.

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In its continued bid to maximise the nation’s abundant gas resources for economic development and prosperity, NNPC Ltd has begun discussions with investors towards bringing back two Liquefied Natural Gas (LNG) projects, Brass and Olokola LNG projects.

NNPC Ltd’s Chief Financial Officer (CFO), Mr. Umar Ajiya disclosed this on the sidelines of the ongoing 2024 Gas Technology Conference and Exhibition (Gastech), in Houston, United States, on Thursday.

Brass LNG and OK LNG are two LNG projects with the potential of manifold economic benefits for the country which include job creation, power generation, revenue generation and economic diversification. The multi-billion dollar projects were however stalled due to unfavourable market dynamics and slow decision-making by the political class in the past.

“In the past, gas prices went down, the economics of the projects meant a high Capital Expenditure (CAPEX) and this was a dis-incentive for investors and partners. Also, there was slow decision-making by the political class,”’ the CFO added.

While describing NNPC Ltd as a commercially driven Company which recognises timely project development and execution, the CFO said there are abundant gas resources in many parts of the world and therefore, the earlier Nigeria makes smart decisions to bring partners to the table, the better.

Ajiya commended President Bola Ahmed Tinubu for his support in driving new projects in the Industry through the Presidential Executive Orders on Oil & Gas Reforms.

“We are also happy to have the Petroleum Industry Act (PIA) has provided fiscal incentives for investors and is creating the enabling environment that has rekindled hope in the energy sector.”

Ajiya described Gastech as an avenue for NNPC Ltd to learn new technologies which will help the Company decarbonise its operations and promote its abundant LNG resources to the global market.

Gastech is the world’s leading forum dedicated to delivering a more sustainable energy future by bringing together experts who brainstorm to create pathways towards global energy security for lasting climate impact.

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The Corporation also said  that, in line with the provisions of the Petroleum Industry Act (PIA), PMS prices are not set by Government, but negotiated directly between parties on an arms length.

It reconfirmed that it is paying Dangote Refinery in USD for September 2024 PMS offtake, as Naira transactions will only commence on October 1st, 2024.

It assured that if the quoted pricing is disputed, it will be grateful for any discount from the Dangote Refinery, which will be passed on 100% to the general public.

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NNPC Ltd on Sunday acknowledged recent reports in national newspapers regarding the company’s significant debt to petrol suppliers. This financial strain has placed considerable pressure on the Company and poses a threat to the sustainability of fuel supply.

In line with the Petroleum Industry Act (PIA), NNPC Ltd remains dedicated to its role as the supplier of last resort, ensuring national energy security. We are actively collaborating with relevant government agencies and other stakeholders to maintain a consistent supply of petroleum products nationwide.

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The Vision First programme is a continuation of NNPC Ltd/ SNEPCo Production Sharing Contract (PSC) commitment to advancing health and well-being within its host communities. Through this initiative, over 1,000 individuals will receive free eye care services, alongside a range of general healthcare provisions. The services include cardiovascular screening, BMI assessments, laboratory services, consultations, treatment of mild and chronic diseases, and distribution of insecticide-treated nets. 

Since its inception, the Vision First programme has made a significant impact, with over 1,853 individuals benefiting from free eye care services. The Lagos edition, which began in 2022, has screened 2,000 people, provided 1,199 prescription glasses, administered medication to 1,310 beneficiaries, and facilitated successful procedures for 189 individuals.

The initiative is also aligned with the Mallam Mele Kyari-led Management commitment of making positive impact in NNPC Ltd’s host communities and enhancing the quality of life for Nigerians through sustainable partnerships.

In his remarks, the Chief Upstream Investment Officer of NNPC Upstream Investment Management Services (CUIO – NUIMS), Mr. Bala Wunti stated that the Vision First Plus programme represents a commitment to restoring hope and improving lives within NNPC Ltd commour communities.

“Through this programme, we aim to ensure that preventable vision challenges do not hold anyone back. By providing eye screenings, corrective lenses, surgeries, and general healthcare, we’re dedicated to bringing clarity and brighter futures to those who need it most,” Wunti, who was represented by Mrs. Bunmi Lawson, added.  

The outreach emphasized the significance of proactive health management, highlighting that healthy eyes lead to a brighter future. Attendees were encouraged to protect their vision through regular check-ups, a balanced diet, and adequate rest. 

The Vision First programme embodies the spirit of collaboration and the essence of giving back to the communities where NNPC Ltd operates. It also signifies the Company’s commitment to investing in social initiatives that leave a lasting positive impact. 

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