NNPC Trading Limited has issued fresh tenders inviting bids for cargoes of its newer Cawthorne crude grade loading in September, alongside a separate tender for Bonny Light. The Cawthorne cargo comprises 950,000 barrels loading September 21–22. Cawthorne is one of several new Nigerian crude grades, alongside Nembe and Utapate, that NNPC has introduced as part of its price-discovery and export diversification push following years of underinvestment and oil theft affecting production.
Procurement Details
Key Issues / Risks
Cawthorne remains in trial marketing/price-discovery phase, so pricing benchmarks are still forming; volumes are cargo-sized rather than long-term offtake.
Latest Development (Detail)
Cargo set to load 21-22 September 2026, comprising 950,000 barrels; a parallel Bonny Light cargo tender was issued alongside it.
What Happens Next
Award of the September cargo; continued monthly tenders as Cawthorne moves from trial marketing to established grade status.
Commercial Opportunity
Recurring monthly bidding opportunity for crude traders and refiners seeking exposure to Nigeria's newer export grades; early participants help shape price benchmarks for a maturing grade.