The Nigerian National Petroleum Company Limited (NNPC) has issued fresh tenders for the sale of two crude oil cargoes, including another shipment of its newest export grade, Cawthorne crude.
According to tender documents seen by Reuters on Monday, NNPC is offering a 950,000-barrel cargo of Cawthorne crude for loading between September 21 and 22. The company is also selling a 950,000-barrel cargo of Bonny Light scheduled for loading between September 30 and October 1.
The cargoes will be sold on a free-on-board basis, while bids are expected to close at 8:00 p.m. West Africa Time on August 4.
The latest sales exercise comes just months after Nigeria exported its first Cawthorne crude cargo in March. The grade joins Nembe and Utapate as part of the country’s newest export blends.
The introduction of these crude grades is part of Nigeria’s strategy to increase crude oil production, attract more international buyers and diversify its export portfolio.
The country has been working to reverse years of declining oil output caused by crude theft, pipeline vandalism, ageing infrastructure, underinvestment and operational disruptions.
NNPC did not immediately respond to Reuters’ request for comments on the latest tender.
According to a preliminary loading programme reviewed by Reuters, the Bonny Light production stream is expected to load about 364,000 barrels per day across 12 cargoes during the export cycle.
The report also noted that sellers of West African crude grades have begun raising their offer prices in recent trading sessions as geopolitical tensions in the Middle East continue to threaten global oil supplies.
Despite the higher asking prices, market activity has remained relatively slow as traders await clearer developments around the Strait of Hormuz and the Red Sea, two critical shipping routes for global crude exports.
The uncertainty surrounding the region has continued to influence international crude prices, with buyers taking a cautious approach while monitoring the security situation.
Nigeria has intensified efforts to revive its oil sector by increasing production from existing fields and introducing new export grades, including Utapate, Nembe and Cawthorne.
The initiative supports the Federal Government’s target of raising crude oil production above two million barrels per day while boosting foreign exchange earnings from oil exports.
Recently, Nigeria recorded strong earnings from crude exports despite concerns over inadequate feedstock supply for domestic refineries.
The country’s crude oil export earnings reached an estimated N24.02 trillion from 182.2 million barrels exported in the first half of 2026.
The exported crude was valued at approximately 17.60 billion dollars, equivalent to N24.02 trillion, based on an exchange rate of N1,365 per US dollar.
Data from the Central Bank of Nigeria showed that total crude oil production stood at about 263.65 million barrels during the six-month period, with an estimated market value of 25.41 billion dollars, or N34.69 trillion.
The estimates were calculated using average daily production and export volumes alongside the corresponding monthly Bonny Light crude prices. June production averaged 1.56 million barrels per day, while exports averaged 1.11 million barrels per day at an average price of 88.24 dollars per barrel.
Geopolitical tensions in the Middle East continue to support stronger prices for competing crude grades, including those from West Africa, as concerns persist over shipping through the Strait of Hormuz and the Red Sea.
