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Nigeria Begins Export Of ‘obodo’ Crude To Germany
Posted by Dammyjay Jameson on 14 May 2025 12:40 PM CAT
ActionAid knocks FG over partial remittance of subsidy removal gains
By : Oliwe Anthony
There are indications that cargo of Nigeria’s newest crude blend, Obodo, has been loaded and is possibly en route to Germany, according to market sources.
Amid rising poverty and fiscal crisis, ActionAid Nigeria has criticised the Federal Government over the delay and partial remittance of fuel subsidy removal gains by the Nigerian National Petroleum Company Limited (NNPCL).
The Suezmax tanker, Atlanta Spirit, lifted the cargo on April 25 from the Tamara Tokoni Floating Production, Storage and Offloading (FPSO) vessel, tracking data from Kpler shows.
Argus reported that Nigerian energy firm, Oando, which marketed the cargo, reportedly sold it to an undisclosed buyer, traders familiar with the matter said.
A source at NNPCL disclosed that the shipment might be destined for Wilhelmshaven, a key North Sea port in Germany. Obodo is a medium-sweet crude with an American Petroleum Institute (API) gravity of 27.65° and an ultra-low sulphur content of 0.05 per cent, according to a crude assay reviewed by Argus. Information on Obodo’s current production levels is yet to be made public.
The grade is being produced by Nigerian independent firm, Continental Oil and Gas, from the onshore Oil Mining Lease (OML) 150 in the Niger Delta. Its introduction follows the recent revival of similar medium sweet crudes such as Utapate, which NNPCL restarted in 2024, and Nembe, launched a year earlier.
Obodo is expected to appeal to European refiners, particularly as Nigeria’s other medium sweet grades, including Forcados, Escravos and Bonga have predominantly been shipped to Europe, which remains the largest market for Nigerian crude.
Speaking at the Argus European Crude Conference in London, Managing Director of NNPC Exploration and Production Limited (NEPL), Nicholas Foucart, hailed the development as a major milestone for the Nigerian oil sector, stating it would boost both export
volumes and revenue.
