News
NNPC Launches Utapate Crude Oil Blend Into International Market
- /home/naijuinz/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 27
https://naijablitznews.com/wp-content/uploads/2024/02/NNPCL.jpg&description=NNPC Launches Utapate Crude Oil Blend Into International Market', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
- Share
- Tweet /home/naijuinz/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 72
https://naijablitznews.com/wp-content/uploads/2024/02/NNPCL.jpg&description=NNPC Launches Utapate Crude Oil Blend Into International Market', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
The Nigerian National Petroleum Company Limited (NNPC Ltd) has officially introduced its newest crude oil grade, Utapate, to the international market.
According to a statement by Olufemi O. Soneye, Chief Corporate Communications Officer of NNPC Ltd, this development follows the successful lifting of the first cargo of 950,000 barrels of Utapate crude oil in July 2024, bound for Spain.
The Utapate crude oil blend is a joint endeavor between NNPC Ltd and its partner, Sterling Oil Exploration & Energy Production Company (SEEPCO) Ltd.
The event held at the Argus European Crude Conference taking place in London, United Kingdom, on Wednesday, the Managing Director, NNPC E & P Limited (NEPL), Mr. Nicholas Foucart described the introduction of the Utapate crude oil blend into the market as a significant milestone for Nigeria’s crude oil export to the global energy market.
According to the statement, “Since we started producing the Utapate Field in May 2024, we have rapidly ramped up production to 40,000 barrels per day (bpd) with minimum downtime. So far, we have exported five cargoes, largely to Spain and the East Coast of the United States; while two more additional cargoes have been secured for November and December 2024, representing a significant boost to Nigeria’s crude oil export to the global market,” Foucart told a packed audience of European crude oil marketers.
He further said that since its introduction into the global market, the Utapate crude oil blend has enjoyed a positive response from the international crude oil market, due to its highly attractive qualities.
He noted that the Oil Mining Lease (OML) 13, fully operated by NEPL and Natural Oilfield Services Ltd (NOSL), a subsidiary of SEEPCO Ltd, boasts a huge reserves of 330million barrels of crude oil reserves, 45 million barrels of condensate and 3.5 tcf of gas.
“We have a number of ongoing projects to increase our production from the current 40,000bopd to 50,000bopd by January 2025 and 60,000bopd to 65,000bopd by June 2025. Essentially, we are targeting opportunities to increase production to 80,000bopd by the end of 2025,” Foucart added.
He said the Utapate crude oil terminal is sustainable, affordable and fully compliant with the rigorous environmental regulations and sustainability principles especially those aimed at reducing carbon emissions and other ecological effects.
Also speaking, the Managing Director of NNPC Trading Ltd (NTL), Mr. Lawal Sade said the pricing structure of the Utapate crude oil blend is similar to that of Amenam crude as it is a light sweet crude which is highly sought after by refiners across the world due to its low sulphur content, efficient yield of high-value products, API gravity and other similarities.
He said in bringing the new crude oil blend to the global market, NNPC Ltd wanted to optimise value for both its producers and counterparties across the globe.
He added to ensure predictability and sustainability of supply, the NNPC Trading intends to run a term contract on the Utapate crude oil blend cargoes, principally targeting off-takers from the European and the US East Coast refineries.
Produced from the Utapate field in OML 13 in Akwa Ibom State in Nigeria, the Utapate crude oil blend is similar to the Nembe crude oil grade. It has a low sulphur content of 0.0655% and low carbon footprint due to flare gas elimination, fitting perfectly into the required specification of major buyers in Europe.
The NNPC E&P Ltd and NOSL partnership is also committed to operating in a manner that is safe, environmentally responsible, and beneficial to the local communities.
The Utapate field development plan, executed between 2013-2019 and approved in October, included converting wells and facilities from swamp/marine to land-based operations.
The plan involved a multi-rig drilling campaign for 40 wells and the development of significant infrastructure such as production facilities, storage tank, a subsea pipeline and an offshore loading platform to facilitate crude oil evacuation and loading.
The entry of the Utapate crude oil blend into the market is coming barely a year after the NNPC Ltd announced the launch of Nembe crude oil, produced by the NNPC/Aiteo operated Oil Mining Lease (OML) 29 Joint Venture (JV).
This remarkable achievement signal the commitment of the NNPC Ltd to increasing Nigeria’s crude oil production and growing its reserves through the development of new assets, the statement quoted.
News
Troops Rescue 14 abductees, recover 281 rustled livestock in Sokoto
Troops of the Nigerian Army’s 8 Division Garrison have rescued 14 kidnapped victims and recovered 281 rustled livestock following an operation against bandits in Shagari Local Government Area of Sokoto State.
A security source familiar with the operation disclosed the development to journalists in Sokoto on Wednesday.
The source, who requested anonymity, said the troops responded swiftly to a distress call on Tuesday after bandits attacked Horo Birni Village and abducted several residents while rustling livestock.
According to the source, the troops intercepted the bandits as they were moving the kidnapped victims and the stolen animals, forcing them to abandon their captives and flee.
The operation led to the successful rescue of all 14 victims and the recovery of 281 livestock.
The source attributed the success of the operation to the troops’ prompt response and effective collaboration among security agencies.
“The troops are always battle-ready to tackle all forms of criminality in the country but need sustained community support and vigilance,” the source said.
In a related development, operatives of the Enugu State Police Command have rescued four kidnap victims during separate operations in Enugu and neighbouring Benue State, while recovering the body of another victim who was allegedly killed by his abductors.
The Command’s spokesperson, SP Daniel Ndukwe, said the rescues were carried out through coordinated intelligence-led operations involving police operatives, the Nigerian Army, the Enugu State Forest Guards, neighbourhood watch personnel, vigilante groups and the Benue State Civil Protection Guards.
One of the operations led to the rescue of two brothers who were abducted at Ezimo-Ulo in Udenu Local Government Area of Enugu State.
According to Ndukwe, operatives from the Udenu Police Division, the Anti-Kidnapping Section of the Command’s Violent Crime Response Unit (VCRU), the Distress Response Squad (DRS) and the Orukam Police Division of the Benue State Police Command tracked the kidnappers to Ikele in Owukpa Community, Ogbadibo Local Government Area of Benue State.
The operation, which also leveraged the Inspector-General of Police’s Handshake Patrol initiative, culminated in a gun battle that forced the kidnappers to flee with suspected gunshot wounds, allowing the victims to be rescued safely.
Security operatives recovered 15 rounds of live ammunition, the victims’ Android phones and car keys, other mobile phones and accessories, a bottle containing substances suspected to be hard drugs and related paraphernalia, clothing items and ₦11,800 from the kidnappers’ hideout.
The victims were later debriefed and reunited with their family.
In a separate operation, operatives of the Umabor Police Division, working with the Anti-Kidnapping Section of the VCRU, the Enugu State Forest Guards and neighbourhood watch personnel, rescued two other victims who had been kidnapped at Amukpa Village in Ogbozara Community, Nsukka Local Government Area.
Police, however, said another victim did not survive the ordeal. His decomposing body was recovered from a forest, where investigators believe he died from gunshot wounds inflicted by the kidnappers while in captivity.
Ndukwe said investigations were ongoing and that security operatives had intensified efforts to track down the fleeing suspects involved in both incidents.
News
Finally, Woro Abductees Regain Freedom — Kwara Govt
No fewer than 176 abducted during the deadly February 3 terrorist attack on Woro and Nuku communities in Kaiama Local Government Area of Kwara State have regained their freedom.
The development was announced on Wednesday in a post on the official Facebook page of the Kwara State Government, which was sighted by our correspondent.
The government wrote, “Alihamdulillaah and kudos to President Bola Ahmed Tinubu GCFR, security forces, and everyone who played a role in this huge feat. We are grateful!”
The victims, who are mostly women and children, were abducted by bandits on February 3, 2026.
Addressing a Channels Television crew in her office, the Commissioner for Communication, Bola Olukoju, expressed appreciation to President Tinubu, the military hierarchy, and the state governor for their roles in securing their release.
She said efforts to secure their freedom had been ongoing, adding that the exact number of those released could not be disclosed yet until further information is received from the military, who currently have the victims in custody.
“Yes, our Woro victims have been released. We are still awaiting more details from the military, but first and foremost, we would like to say a big thank you to the President, Bola Ahmed Tinubu, and the Nigerian military, and our governor, Mallam AbdulRahman Abdulrazak, who hasn’t rested since it happened,” the commissioner said.
“And he has been on it. When people ask: what is he doing? What has been going on behind the scenes, but because it’s a security issue, we can’t tell people about what we are doing.
“But to God be the glory; they have been released. We’re expecting more details.”
News
Osun Poll: Imole Campaign Council Accuses EFCC of Using Anti-Graft Powers to Influence Election
By Gloria Ikibah
The Imole Campaign Council (TICC) has accused the Economic and Financial Crimes Commission (EFCC) of abusing its statutory powers by freezing the Osun State Government’s accounts barely days before the governorship election of the state, alleging that the action amounts to political interference aimed at undermining the democratic process.
In a statement issued on Thursday by the Chairman Media and Publicity Committee, Rep. Bamidele Salam, the campaign council described the development as an unprecedented misuse of authority capable of disrupting governance and denying residents access to essential public services.
Salam argued that the timing of the action, coming about 10 days before the governorship election in which the incumbent governor is seeking re-election, raises serious concerns over the motive behind the decision.
He said: “The Imole Campaign Council (TICC) has accused the Economic and Financial Crimes Commission (EFCC) of going outside its mandate by interfering in the upcoming governorship election in Osun State, describing the freezing of Osun State Government account a few days to the election as a brazen abuse of authority and attack on the people.
“It is quite ludicrous that a body set up to fight infractions in the society is invariably enabling it. Nothing, other than politics can accurately explain the reprehensible action of the EFCC to freeze the account of Osun State Government just 10 days to election which the incumbent is a candidate.”
The council contended that the freezing of the state’s accounts had effectively crippled the government’s ability to discharge its constitutional responsibilities.
According to Salam, the action could affect the payment of workers’ salaries and pensions, execution of infrastructure projects, security operations and other essential public services.
“By implication, the EFCC as a body set up by law is frustrating a sub-national government from carrying out its lawful duties of payment of salary and allowances, pensions, fixing infrastructure, addressing security challenges and carrying out other duties which the Nigerian Constitution has entrusted unto the state”, he added.
The council further alleged that the anti-graft agency’s decision amounted to an assault on democratic governance and the rights of the people of Osun State.
“The EFCC has in other words executed a coup against the democratic expression of over five million citizens of a supposedly democratic country.
“In plain sight, what the EFCC has done is to recklessly weaponise its authority to exert economic pressure on Osun people in the bid to coerce them into schemed political choice”, Salam stated.
Salam also warned that the development could disrupt critical public services, including healthcare programmes, insisting that public institutions should never be used as political tools.
“With the politically motivated action of the EFCC, many essential services, including planning for some public health interventions, can no longer go on.
“This is very unfair to Osun people because we believe that public institutions should never become a political weapon against ordinary citizens”, he expressed worries.
While reiterating the council’s support for transparency and accountability in public office, Salam maintained that the anti-corruption campaign must not be used as a cover for political persecution.
The campaign organisation urged the commission to immediately reverse its decision and allow the state government to continue its operations without hindrance.
“As much as we are not opposed to accountability in governance, we state our total rejection to political witch-hunting disguised as corruption fight.
“The EFCC approach, timing and the follow-up posture all have politics written over it, and we want to call on the anti-graft body to immediately stop further attempts to interfere with the will of Osun people.
“We maintain that Osun people have every rights to democratic choices via the poll and as such, will not accept the subtle attempt by the EFCC to subdue their wills through abuse of authority.
“We therefore call on the EFCC to immediately unfreeze the account so that governance can continue and the people can get the services they deserved”, he said.
The EFCC had not issued a response to the allegations at the time of filing this report.
-
News19 hours agoPolice summon VDM, question AIG Moshood Jimoh over allegations, insist on due process
-
News18 hours agoGood news as Tinubu jerks up soldiers salaries by 80%
-
News18 hours agoPay Rise: Defence Minister Assures Tinubu Of Renewed Military Commitment
-
News18 hours agoJust in: Sultan of Sokoto denies approving TInubu for 2nd term
-
News9 hours agoFG Reopens Portal For Nigerians To Obtain N50,000 Grant(See how to apply)
-
Sports19 hours agoLiverpool Legend, Mo Salah Joins Tranzonspor On Two-Year Deal
-
Metro18 hours ago
Lady saved from jumping into Lagos lagoon
-
News3 hours agoConfusion as three kids found in female witch doctor’s apartment

Warning: Undefined variable $user_ID in /home/naijuinz/public_html/wp-content/themes/zox-news/comments.php on line 49
You must be logged in to post a comment Login