The Nigerian National Petroleum Company (NNPC) Limited has finalized a significant crude oil export deal, with its first cargo set to be shipped to Europe this month.
According to industry data, the crude will be loaded on April 9 or 10 aboard the Greek-owned vessel Meltemi I, a 164,000-dwt tanker chartered by NNPC Shipping.
Panos Gliatis, Managing Director of NNPC Shipping, confirmed the deal, stating: “NNPC Trading concluded in March a deal to sell the first delivered crude cargo to one of the big oil majors.”
The agreement follows an ex-ship basis, meaning NNPC will handle shipping and insurance logistics. The tanker has flexibility to discharge at multiple European ports.
“This is a milestone for NNPC and Nigeria. So far, it was considered a free-on-board market,” Gliatis added.
This achievement follows NNPC’s successful liquefied natural gas (LNG) shipments last year, which were delivered to buyers in Japan and China. The company has been actively expanding its global energy trade footprint since entering LNG trading in 2021.
In a strategic move to strengthen its shipping capabilities, NNPC is also forming a joint venture with Sweden’s Stena Bulk and Nigeria’s Caverton Marine to develop a modern fleet of tankers and gas carriers. The partnership aims to enhance efficiency and meet growing demand in West African markets.
Additionally, NNPC Shipping recently secured time-chartered suezmax tankers to supply crude oil to Nigeria’s Dangote Refinery, further solidifying its role in regional and global energy logistics.
This latest export deal underscores NNPC’s growing influence as a key player in the international energy market.
