… as NUPRC confirms first export by Conoil

… Nigeria’s daily oil production rises to 1.683 mbpd in April, 2025

Oredola Adeola

Nigeria’s crude oil portfolio has expanded with the official entry of the Obodo crude blend into the global oil market in May 2025.

The new medium sweet grade marks Nigeria’s 27th distinct crude oil stream, further strengthening its position as a key player in the international energy landscape.

According to Advisors Reports, the addition of Obodo Blend enhances Nigeria’s diverse crude offerings, which already include some of the world’s most sought-after grades such as Bonny Light, Forcados, Qua Iboe, Brass River, and Escravos.

Other notable Nigerian crude grades now include,  Agbami, Akpo, Bonga, Erha, Usan, Yoho, Pennington Light, Antan Blend, Ukpokiti, Okwori, Okono, EA Blend, Oso Condensate, Egina, Odudu Blend, Amenam, Ima, Obiafu-Obrikom, Okoro, Ukpan, and Utapate.

Engr. Gbenga Komolafe, Commission Chief Executive (CCE) of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), confirmed the entry of the Obodo crude blend into the international market in a statement congratulating Conoil Producing Limited on the successful shipment of the first cargo.

The statement, obtained by Advisors Reports on Tuesday.

According to the NUPRC’ CCE, the milestone marks a significant breakthrough for Nigeria’s upstream sector, showcasing the growing capacity of indigenous operators to contribute meaningfully to national crude oil production and exports.

He stated, “The introduction of the Obodo crude blend further diversifies Nigeria’s export portfolio and aligns with the Commission’s strategic objectives to enhance production output, maximize hydrocarbon resources, and attract investment through operational efficiency and innovation.

“This achievement by Conoil, under the Production Sharing Contract (PSC) framework with the Nigerian National Petroleum Company Limited (NNPCL), also reflects the positive outcomes of collaborative regulatory support, enabling indigenous players to thrive.”

Engr. Komolafe emphasized that as the regulator of Nigeria’s upstream petroleum industry, the NUPRC remains committed to providing a transparent, predictable, and investment-friendly environment that encourages the development of new crude streams and ensures optimal value for the Nigerian people.

He reiterated the Commission’s commitment to supporting similar milestones that advance national energy security and economic resilience.

Advisors Reports in a data obtained from Argus Media, a platform that provides market data and price assessments for global industries, showed that the medium sweet Obodo crude has a gravity of 27.65° API and a sulphur content of 0.05%, according to an assay seen by the company.

Argus noted that the grade is likely to be priced in line with Nigeria’s medium sweet Bonga crude.

Advisors Reports further gathered that Conoil Producing Limited and Continental Oil & Gas Limited operate the Obodo field as part of a joint venture under the Production Sharing Contract (PSC) framework with the Nigerian National Petroleum Company (NNPC) Ltd for Oil Mining Lease (OML) 150.

It will be recalled that in August 2024, NNPC Ltd also introduced the Utapate crude oil blend, another new crude grade, into the international market.

Meanwhile , the NUPRC  in its data released on Monday, titled, “Crude Oil and Condensate Production April 2025,  revealed that Nigeria’ total daily production climbed from 1.603 million bpd in March to 1.683 million bpd in April.

A breakdown of this showed that the country pumped an average crude oil of 1,485,700 barrels of oil per day (bpd) in April, a 6.06% increase from March’s production level of 1,400,783 bpd.

The volume of condensate—an ultra-light hydrocarbon similar to crude oil—  dropped from  202,217 bpd in March to 197,300 bpd in April.