Market News
Nigeria wants term buyers for new Utapate crude, seeks to double output - REUTERS
By Robert Harvey and Enes Tunagur
LONDON, Nov 20 (Reuters) - Nigeria is seeking term customers for its new crude oil grade Utapate and is aiming to double output by the end of 2025 from 40,000 barrels per day, state-owned NNPC and venture partner Natural Oilfield Services said at the grade's official launch.
The launch is part of Nigeria's push to boost its oil production, which has long been hindered by unrest and crude theft, despite the West African producer being a part of an ongoing OPEC+ production cut pact.
