FG Discovers Medium Sweet Crude in Warri

The Federal Government of Nigeria is set introduce a new medium sweet crude grade, Obodo, in April 2025, expanding its crude portfolio. The new grade, with a 27.65° API gravity and 0.05% sulfur content, will likely be priced similarly to the Bonga crude.

Warri Sentinel understands that Continental Oil & Gas will produce Obodo from OML 150 in Warri South, Delta State, while state-run NNPC will handle its marketing. The crude grade adds to Nigeria’s growing supply of medium-sweet oils, including recent launches like Utapate and Nembe.

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European refineries, where maintenance will soon end, could be key buyers, though Nigerian crude has faced reduced demand due to lower-priced alternatives. Despite this, the trade cycle has shifted to May, with several April-loading cargoes still unsold.

Nigeria’s NUPRC aims to boost output by 1.07 million b/d by December 2026, although it has struggled to meet previous production targets. February’s production was 1.47 million b/d, below its OPEC+ quota.

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