Nigeria, Africa’s largest oil producer, recently announced the arrival on the international market of a new variety of crude, called Nembe. in a press release. This news was eagerly awaited, and the National Oil Company (NNPC) confirmed its ambition to export close to two million barrels of this variety per month. This initiative represents an important turning point in the country’s oil sector and opens up new opportunities on the international scene.
The Nembe has already debuted on the international market, with shipments sent to France and the Netherlands. The NNPC proudly announced these shipments, specifying that the country intended to maintain a rate of two shipments per month, each with 950,000 barrels. This demonstrates the confidence that Nigeria places in this new variety of oil, with the aim of boosting its economy and strengthening its position as a leader in the African oil sector.
What sets Nembe apart from other crude oil varieties is its API gravity of 29°. This feature has earned Nembe the term “attractive” from the NNPC. In addition, it has a low sulfur content and a reduced carbon footprint thanks to the elimination of flame gases. These properties perfectly meet the requirements of major European buyers, thus opening up new business opportunities for Nigeria.
The inauguration of Nembe production is accompanied by the commissioning of the new Nembe Crude Oil Export Terminal (NCOET). This floating storage and offloading unit is capable of storing up to two million barrels of crude oil and loading them onto any tanker. With a loading capacity of 25,000 barrels per hour, this terminal is expected to export more than 3.6 million barrels of crude each month once operating at full capacity. This infrastructure further strengthens Nigeria’s position in the global oil market.
The NNPC also noted that Nembe was pre-blended with Bonny Light and exported through the Bonny Oil and Gas Terminal. However, security concerns had limited the traffic of this variety of oil, but thanks to a recently found solution, exports have resumed. This is an important step in the optimization of the country’s oil logistics and strengthens its reputation as a reliable supplier in the global market.