The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has congratulated Conoil Producing Limited on the successful shipment of the first cargo of the Obodo crude blend.
NUPRC, in a statement on Wednesday, signed by Engr. Gbenga Komolafe, Commission Chief Executive (CCE), described the development as a significant milestone for Nigeria’s upstream sector, adding that the successful first cargo shipment demonstrates the growing capacity of indigenous operators to contribute meaningfully to national crude oil production and exports.
“The introduction of the Obodo crude blend further diversifies Nigeria’s export portfolio and aligns with the Commission’s strategic objectives to enhance production output, maximise hydrocarbon resources, and attract investment through operational efficiency and innovation.
“This achievement by Conoil, under the production sharing contract framework with the Nigerian National Petroleum Company Limited (NNPCL), also reflects the positive outcomes of collaborative regulatory support, enabling indigenous players to thrive.
“As the regulator of Nigeria’s upstream petroleum industry, the NUPRC remains committed to providing a transparent, predictable, and investment-friendly environment that encourages the development of new crude streams and ensures optimal value for the Nigerian people.
“We look forward to more milestones of this nature that advance national energy security and economic resilience,” the statement reads.
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