Nigeria sells new crude grade to Repsol, Gulf Transport and Trading
By Julia Payne and Isaac Anyaogu
BRUSSELS/LAGOS, Aug 2 (Reuters) -Nigeria's state oil firm NNPC has sold its first three cargoes of its new light, sweet crude grade Utapate to Spain's Repsol and Dubai-based Gulf Transport and Trading (GTT), NNPC and sources said.
The new grade has an API gravity of 43.7 degrees and a sulphur content of 0.065%, a crude assay document seen by Reuters showed.
NNPC said the first cargo of 950,000 barrels was loaded onto the Front Seoul tanker on July 17 and destined for Bilbao, Spain.
The second two cargoes were awarded to GTT, NNPC said, adding that the grade is comparable to its Amenam grade. The cargoes are due to load Aug. 20-21 and Sept. 15-16, a source with direct knowledge said.
NNPC said the field is located offshore Akwa Ibom state and current production was 28,000 barrels per day (bpd) with plans to increase output to 50,000 bpd.
Reporting by Julia Payne and Isaac Anyaogu, Editing by Louise Heavens
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