Key takeaways:
- NNPC has issued a tender to sell 950,000 barrels of its new Cawthorne crude grade
- The company is also offering a 950,000 barrel cargo of Bonny Light loading on September 30-October 1
- Bids for both tenders are due on August 4
Nigeria’s state-owned oil company NNPC has issued a fresh tender to sell a cargo of its newest crude grade, Cawthorne, along with a separate tender for Bonny Light.
Reuters reported on Monday that the Cawthorne cargo, comprising 950,000 barrels, is scheduled to load on September 21-22. NNPC is separately offering a 950,000 barrel cargo of Bonny Light loading on September 30-October 1.
Both cargoes are being sold on a free-on-board basis, with bids due by 8 p.m. West Africa Time on August 4.
NNPC did not immediately respond to a request for comment.
A preliminary loading programme seen by Reuters shows the Bonny Light production stream will load around 364,000 barrels per day across 12 cargoes.
Cawthorne, meanwhile, is part of a newer wave of Nigerian crude grades entering export markets, joining Nembe and Utapate as the country works to diversify its export streams after years of underinvestment, oil theft and operational disruptions in the Niger Delta.
A light, sweet grade built for a rebounding output picture
NNPC began exporting Cawthorne in April, when it shipped its first 950,000-barrel cargo. The grade has an API gravity of 36.4, placing it in the same light, sweet category as Nigeria’s flagship Bonny Light, a blend long valued by refiners for its high gasoline and diesel yields.
Cawthorne is exported through a floating storage and offloading vessel of the same name, which has a storage capacity of about 2.2 million barrels and is designed to boost crude transportation and production from Oil Mining Lease 18 and surrounding assets in the eastern Niger Delta.
Energy intelligence firm,Kpler, has estimated that Cawthorne’s addition could lift Nigeria’s crude and condensate supply to around 1.7 million barrels per day, up from about 1.65 million bpd previously.
The grade follows the 2025 launch of Obodo and the 2024 launch of Utapate, part of a broader push by NNPC to widen Nigeria’s crude slate and attract international buyers seeking specific grades tailored to their refinery configurations.
Middle East disruptions are starting to move West African pricing
On the other hand, sellers of West African crude grades have begun raising offer levels in recent trading sessions amid growing supply disruptions in the Middle East, traders told Reuters.
Broadly, however, trading activity has remained muted as market participants wait for more clarity on the volatile situation in the Strait of Hormuz and the Red Sea, where Houthi attacks have disrupted shipping routes and pushed some tankers to reroute through alternative paths.
The added export volumes come as Nigeria continues to push for a higher production quota within OPEC+, having pumped close to its current 1.5 million bpd quota in recent months after years of underperformance driven by pipeline vandalism and crude theft that industry analysts estimate has siphoned off as much as 200,000 bpd at its peak.
